by Paula Schaap ,Senior Reporter , September 16, 2010
Hedge fund manager George Soros said, despite his play in gold, that the precious metal wasn’t a safe bet anymore.
Speaking at a conference sponsored by Reuters, Soros warned while the commodity could go higher, it’s the “ultimate bubble.”
Soros has been calling a gold bubble since the start of the year. Yet, at the same time, he has invested heavily in gold ETFs through the SPDR Gold Trust and in gold mining companies, according to regulatory filings.
Gold prices were up to a new high early Thursday morning, at $1,278 per ouce.
Butn Soros said, in times of economic uncertainty, what he really prefers are plain vanilla blue-chip stocks with steady dividends.
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