But one canny investor, it seems, was buying. George Soros…

A fortnight or so after his “ultimate bubble” quote hit the headlines, it emerges that George Soros has actually more than doubled his investment in gold. He now owns some 6.2 million shares in the US-listed gold exchange traded fund, SPDR Gold Trust (NYSE: GLD), worth some $680m. His investment vehicle Soros Fund Management also increased its holding in the Canadian gold miner Yamana (LSE:YAU) .

On a technical basis, if we get a MA crossover, we should [might] see a retesting of the highs, circa $20. This would represent circa 100% return on investment [a little less]