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    gold investing

    Top Hedge Fund Managers Still Believe in Gold

    Olivia Da Silva
    May. 16, 2018 05:00PM PST
    Precious Metals

    Filings show that top-tier hedge fund managers Ray Dalio and John Paulson stayed true to the yellow metal in Q1.

    Gold bugs rejoice — major hedge fund managers Ray Dalio and John Paulson are still rooting for the precious metal.

    The yellow metal moved ahead 1.7 percent in 2018’s first quarter, pushed forward by a steadily weakening US dollar, which helped it dodge repercussions from rising US borrowing costs.

    However, gold took a nasty tumble this week due to rising interest rates — it slipped below the US$1,300-per-ounce mark on Tuesday (May 15), closing at US$1,290.30 that day.

    Investors may be feeling shaken, but according to regulatory filings acquired by Bloomberg, Paulson’s firm Paulson & Co. had 4.32 million shares in SPDR Gold Shares (ARCA:GLD), the world’s largest gold exchange-traded fund, as of March 31.

    Paulson & Co. was in the news last year after Marcelo Kim, a partner at the firm, urged investors to protect themselves from major gold miners’ “dreadful” performance — he called for the formation of a council aimed at making gold-mining companies more accountable.

    In March, Paulson & Co. returned capital to clients in an effort to “focus on [its] core expertise” after its assets shriveled to $9 billion, down from $38 billion in 2011, a source told Bloomberg.

    Meanwhile, Dalio’s hedge fund Bridgewater Associates also remained steady in Q1 with 3.9 million shares in SPDR and 11.32 million shares in the iShares Gold Trust (ARCA:IAU).

    Dalio is known for his bullish stance on gold, and said last year that there are enough geopolitical issues that investors should allow gold to account for 5 to 10 percent of their portfolio.

    The filings reported by Bloomberg do not show the current positions held by Paulson & Co. and Bridgewater Associates, so it is possible they have increased or decreased since then.

    Don’t forget to follow us @INN_Resource for real-time updates!

    Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

    ishares gold trustjohn paulsongold investing
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