REPORT: Soros & Paulson Add To Massive Gold Positions
John Paulson’s updated gold holdings of 66 tons exceed the official reserves of nations from Brazil to Bolivia.
Soros and Paulson Buying Gold as Record Prices Seen by Strategists
Gold’s 12-year rally, the longest in at least nine decades, is poised to continue in 2013 as central bank stimulus spurs investors from John Paulson to George Soros to accumulate the highest combined bullion holdings ever.
The metal will rise every quarter next year and average $1,925 an ounce in the final three months, or 12 percent more than now, according to the median of 16 analyst estimates compiled by Bloomberg. Paulson & Co. has a $3.62 billion bet through the SPDR Gold Trust (GLD), the biggest gold-backed exchange- traded product, and Soros Fund Management increased its holdings by 49 percent in the third quarter.