Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Druckenmiller's Duquesne Family long gold futures ahead of Brexit

Published 06/27/2016, 03:29 PM
Updated 06/27/2016, 03:30 PM
© Reuters. Stanley Druckenmiller, Chairman and CEO of Duquesne Family Office LLC., speaks at the Sohn Investment Conference in New York

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.