Paulson: Still in Gold, Still Loving it (GLD) (IAU)
Tweet
Share
E-mail
"I wish I knew how to quit you, gold." - John Paulson, on the precious metal (allegedly)
Amid the recent move lower in gold prices, one bull on the commodity isn't giving up yet.
John Paulson, of hedge fund Paulson & Co., said he's staying the course on gold though there might be some interim volatility. He's still firm on gold being a strong hedge against inflation.
Comments were made during the hedge fund's quarterly call with investors, Reuters noted Wednesday.
Performance for Paulson's funds is said to have been solid through the first three months of 2013. That's in comparison to double-digit losses racked up in 2011 and 2012 for his Advantage and Advantage Plus funds.
For Paulson's gold fund, performance has been sour. The fund is said to be down about 28 percent for the year.
Gold June contracts -- the most actively traded -- are up $17.3 to $1,426.1 per ounce in New York Wednesday. The SPDR Gold Shares (NYSE: GLD) and iShares Gold Trust (NYSE: IAU) are also higher on the session.
Amid the recent move lower in gold prices, one bull on the commodity isn't giving up yet.
John Paulson, of hedge fund Paulson & Co., said he's staying the course on gold though there might be some interim volatility. He's still firm on gold being a strong hedge against inflation.
Comments were made during the hedge fund's quarterly call with investors, Reuters noted Wednesday.
Performance for Paulson's funds is said to have been solid through the first three months of 2013. That's in comparison to double-digit losses racked up in 2011 and 2012 for his Advantage and Advantage Plus funds.
For Paulson's gold fund, performance has been sour. The fund is said to be down about 28 percent for the year.
Gold June contracts -- the most actively traded -- are up $17.3 to $1,426.1 per ounce in New York Wednesday. The SPDR Gold Shares (NYSE: GLD) and iShares Gold Trust (NYSE: IAU) are also higher on the session.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Natural Gas Inventory 36 bcf vs 31 bcf Expected
- Silver could surge to $90 as investment demand takes over, Citi says
- Oil settles down 2% on weak demand outlook, hefty US crude build
Create E-mail Alert Related Categories
Commodities, ETFs, Hedge FundsRelated Entities
Paulson & Co. (PCI), Hedge FundsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
