Billionaire Paulson Sticks With Gold Wager as Prices Rebound

billionaire paulson

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.

Paulson & Co., the largest investor in the SPDR Gold Trust (GLD), the biggest exchange-traded product for the metal, held 10.23 million shares as of Sept. 30, unchanged from June 30, according to a government filing yesterday. Billionaire George Soros took a stake in the Market Vectors Gold Miners ETF. (GDX)

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