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Paulson Maintains Gold Position During 4Q As Price Rises

Kitco News

Paulson Maintains Gold Position During 4Q As Price Rises

(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 fourth quarter, filings show.

Meanwhile, Soros Fund Management LLC has remained out of gold since 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 SPDR Gold as of the end of the fourth quarter, the same as in the third, the filings show. However, because the price of gold rose, the value of those shares as of the fourth quarter stood at $539.1 million, up from $530.1 million as of the third quarter.

Comex April gold futures rose to $1,309.90 as of the end of the fourth quarter, compared to $1,294.50 as the third quarter wound down.

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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