Druckenmiller's Duquesne Family long gold futures ahead of Brexit
Reuters
Published Jun 27, 2016 03:29PM ET
Druckenmiller's Duquesne Family long gold futures ahead of Brexit
NEW YORK (Reuters) - Billionaire investor Stanley Druckenmiller's Duquesne Family Office LLC was long gold futures ahead of last week's vote in Britain to leave the European Union, a source familiar with the matter said on Monday.
Gold soared on Friday in its best day since 2009, hitting two-year highs as uncertainty after Britain's vote to leave the European Union pushed investors to sell equities and seek safer assets.
The size of the trade was not known.
In May, Druckenmiller called the yellow metal his largest currency allocation as central bankers experiment with the "absurd notion of negative interest rates."
Many investors have added or jumped into gold in recent weeks as concerns grew around so-called Brexit and the effectiveness in central bank policies.
Duquesne declined to comment.
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Written By: Reuters
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