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Paulson Maintains Gold Position During 3Q As Price Rises

Kitco News

(Kitco News) - Well-known hedge fund manager John Paulson maintained his holdings in SPDR Gold Shares, the world’s largest gold exchange-traded fund, during the third quarter, filings show.

Meanwhile, Soros Fund Management LLC remained out of gold for the fourth straight quarter after exiting from its shares of Barrick Gold Corp. (NYSE, TSX: ABX) in the fourth quarter of 2016.

Institutional investment managers must file a Form 13F-HR, showing their major holdings, with the Securities and Exchange Commission within 45 days of the end of the quarter.

The hedge fund Paulson & Co. held 4.36 million shares in SPDRD Gold as of the end of the third quarter, the same as in the second, the filings show. The value of those shares as of the third quarter stood at $530.1 million, compared to $514.5 million as of the second quarter.

The spot price of gold rose to $1,279.70 an ounce as of the end of the July-September period from $1,241.35 as of the end of the second quarter.

The filings show Paulson was also exposed to gold through stakes in producers Agnico Eagle Mines Ltd., AngloGold Ashanti Ltd., Iamgold Corp., Randgold Resources Ltd., Seabridge Gold Inc., and NovaGold Resources Inc.

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