Deals
Gold Gains on China Debt Concerns as Soros Stake Boosts Miners
- ‘We all have to be worried’ about China’s debt: BlackRock
- Soros, Druckenmiller bought stakes last quarter in Barrick
Gold Prices Are Still Solid
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Gold gained a third straight session as mounting concerns over China’s debt boosted demand for the metal as a store of value. Miners including Barrick Gold Corp. rose after billionaire George Soros joined a slew of investors piling into bullion.
BlackRock Inc.’s Laurence D. Fink, who oversees the world’s largest money manager, said that “we all have to be worried” about China’s debt amid slowing growth. A filing Monday showed Soros and investor Stanley Druckenmiller bought stakes last quarter in Barrick, the world’s largest bullion producer.