OTHER NEWS - Aug. 16, 1993

Soros Reportedly Sells All His Gold: According to the London Sunday Times, George Soros--best known for reaping a reported $1 billion by betting against the British pound just before the government withdrew the currency from the European Exchange Rate Mechanism--has sold his entire stock of gold bullion. The Hungarian-born investor had bought an estimated 2 million to 3 million ounces through his Quantum Fund for around $345 per ounce. The gold was sold on the international market in recent weeks probably at $385 to $395 an ounce, the newspaper said. Analysts have speculated that some investors have lately moved capital between volatile gold markets and the troubled European currency markets in a bid to profit in both.