Sunday, November 17, 2013

Billionaire John Paulson sticks with gold as prices rebound; Global demand tumbles 21% last quarter

NEW YORK: Billionaire hedge fund manager John Paulson, who cut his gold holdings by more than half in the second quarter, maintained his bet on the metal over the next three months as prices rebounded. 

The metal is still headed for its first annual loss since 2000 as equities rallied and inflation failed to accelerate after Federal Reserve purchases of assets in the debt markets to enhance its policy of easy credit.
Paulson & Co, the largest investor in the SPDR Gold Trust, the biggest exchange-traded product for the metal, held 10.23 million shares as on September 30, unchanged from June 30, according to a government filing on Thursday. 

Billionaire George Soros took a stake in the Market Vectors Gold Min ..

Read more at:
http://economictimes.indiatimes.com/articleshow/25971698.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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