George Soros & Mark Cuban Purchased Gold Assets

Gold remains the most popular investment when times are troublesome. Gold is a precious metal that has withstood revolutions, depressions and natural disasters. Learn why both George Soros and Mark Cuban are purchasing gold assets.

“Scarce Gold Mining Stocks”

When the Spanish conquistadors spoke of the “streets of gold” in the New World, the Old World instantly took notice. Gold mines are quite scarce and have always been a key determinants of a nation’s wealth. The Aztec gold mines might have been the foundation of the Spanish dollar.

Billionaire Investor & Author George Soros has not forgotten the lessons of history. In August 2015, George Soros “accrued 1.9 million shares of Barrick Gold” paying $20.1 million for the allotment. George Soros also held $13.5 million stakes in Market Vectors Gold Miners ETF.

“Mark Cuban Buying Gold Call Options”

Dallas Mavericks Owner Mark Cuban purchased gold call options because he expected the price to increase. Cuban told CNBC’s “Fast Money: Halftime Report” on February 11, 2016 that “[w]hen traders don’t know what to do, they go where everybody is. And I thought that would be gold.” Gold bars are the currency of central banks around the world.

January 2016 saw stock exchanges falling all around the world. Naturally, investors started to become worried about stocks not being a sure thing. Even Forbes had to ask whether global stocks may be overvalued.

“Regular Investors Purchase Gold Coins”

The sophistication required for properly measuring the value of gold mines or timing gold call options may not be everybody. During his US Money Reserve Podcast, US Money Reserve President Philip Diehl mentioned the rise of gold-backed ETFs as a reason for the popularity of the precious metal. Likewise, government-issued gold bullion coins can be a nice safety net for estate planning.

Each US Money Reserve government-issued gold bullion coin has a guaranteed weight and purity. These American coins are prized around the world for their beauty, design and intrinsic value. As Investor Mark Cuban stated in as many words: People turn to gold when afraid.

While you might not be able to establish world peace yourself, you can protect your financial future in an unsafe world. Soros and Cuban have felt the tides turning and purchased gold to protect their wealth.

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