US billionaire George Soros has more than doubled his investment in gold, despite calling it the “ultimate bubble” just weeks ago.
Mr Soros’ investment vehicle Soros Fund Management increased its holding in SPDR Gold Trust to 6.2 million shares, worth $663m (£425m) at the end of 2009.
It had held 2.5 million shares at the end of the third quarter of 2009.
The gold price hit a record high of $1,226.56 an ounce in December, but has since fallen back to about $1,100.
Mr Soros himself has suggested that gold may not be a good investment.
