Gold, Gold, Gold: Go GLD

George Soros' hedge fund more than doubled its bet on the price of gold during the fourth quarter, a portion of the firm's total U.S.-listed equity holdings of $8.8 billion at the end of 2009.
The SPDR Gold Trust (ETF) (NYSE:GLD) has never looked more sexy, unless of course you paint a model with gold.

The GLD is trading today at $109 a share, its has a 52-week range of $84 to $119 and since the beginning of December the ETF is down 4%.

(Reuters.com) The New York-based firm also disclosed in a filing on Tuesday with the U.S. Securities and Exchange Commission that it bought almost 95 million shares of Citigroup (C.N) during the quarter, worth $313 million by the end of the year. Soros reported no holdings of the troubled bank's shares at the end of the third quarter.

Soros Fund Management owned 6.2 million shares of SPDR Gold Trust (GLD.P) -- an exchange-traded fund that owns gold bullion -- at the end of the year worth $663 million. That was up from 2.5 million shares at the end of the third quarter.

Soros and other noted investors like John Paulson have previously touted gold as a hedge against inflation, further economic turmoil or a decline in the value of the U.S. dollar. Last month at the World Economic Forum in Davos, Soros said "the ultimate asset bubble is gold," but he declined to say whether he was investing in the precious metal.

SOURCE: http://www.reuters.com/article/idUSN1624135220100217