UPDATE: Paulson Gold Fund Down 13% in May, 54% YTD (GLD)
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(Updated - June 11, 2013 12:37 PM EDT)
Hedge fund giant John Paulson's Gold Fund is said to have lost 13 percent in May, adding to a 27 percent drop in April, and is now down 54 percent since the start of 2013.
In a letter to investors and obtained by Bloomberg, Paulson said investors should stick with the fund, citing current valuation of gold.
He currently has no plans to close the fund.
Shares of SPDR Gold Shares (NYSE: GLD) are off 0.6 percent today and down over 17 percent in 2013.
Hedge fund giant John Paulson's Gold Fund is said to have lost 13 percent in May, adding to a 27 percent drop in April, and is now down 54 percent since the start of 2013.
In a letter to investors and obtained by Bloomberg, Paulson said investors should stick with the fund, citing current valuation of gold.
He currently has no plans to close the fund.
Shares of SPDR Gold Shares (NYSE: GLD) are off 0.6 percent today and down over 17 percent in 2013.
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