Soros leaves gold and doubles down against S&P 500

Any decision on finance by the tycoon George Soros never goes unnoticed. As reported by the mandatory reporting to the US exchange, Soros Fund Management LLC, the fund managed by the entrepreneur 86-year-old,  has increased its short position against the S&P 500, the benchmark index of US stocks, accumulating put options corresponding to approximately 4 million shares , almost double the 2.1 million shares held on 31 March.
Hard to say if it's real short positions, as they may be simple hedging positions (hedging) of equity securities. The fact is that an indication that we can deduce is quite clear: the expert does not expect an imminent for the US stock market rally.
 
But Soros has taken another important decision: he has drastically reduced its stake in Barrick Gold to 1.07 million shares to 22.9 million dollars, down sharply from 19.4 million shares in the first quarter of the year . Barrick Gold is the world's largest mining gold company.
 
The decision of the fund comes after the gold price increase of about 7 percent in the second quarter, following the rise in the price of 16 percent in the first three months of the year – the most optimistic movement almost three decades fueled by the drop in expectations for a rate hike by the FED.