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« Does the Current Gold Price Justify the Big Gains in Gold Stocks? | Main | Even Reuters Gets It: "Money-Printing Has Pushed Stocks Out Of Kilter With Economic Reality" »

Paulson Maintains SPDR Gold ETP Stake as Metals Prices Rally


At end of June, Paulson & Co. owned 4.8 mln SPDR Gold shares

Gold futures have climbed 27 percent this year on Comex

Billionaire hedge-fund manager John Paulson maintained his holding in the world’s biggest exchange-traded product backed by gold as prices posted the best first half in almost four decades.

At the end of June, Paulson & Co. owned 4.8 million shares of SPDR Gold Shares, a U.S. government filing showed. That was unchanged from the end of March, when the firm cut its stake for a second straight quarter.

Gold futures have climbed 27 percent this year, including a 25 percent surge in the first half that was the biggest such rally since 1979. Demand for gold as a store of value has risen as borrowing costs in the U.S. remain low, while central banks around the world take steps to boost growth. Investors poured $5.4 billion into SPDR in the three months ended June, taking their gold holdings in the ETF near the highest since 2013.

read more....

On the other hand..........

Soros Fund Management LLC sharply cut its shares in SPDR Gold Trust (GLD.P) and Barrick Gold Corp (ABX.TO) in the second quarter of 2016, 13F-HR filings with the U.S. Securities and Exchange Commission showed on Monday.

The fund reduced its holdings in SPDR Gold Trust, the world's biggest gold exchange-traded fund, to 240,000 shares worth $30.4 million, from 1.05 million shares in the first quarter.

It cut its shares in Barrick Gold Corp to 1.07 million shares worth $22.9 million, from 19.4 million shares in the first three months of 2016, the filing showed.

So there we have it, one holding and the other reducing their gold holdings.....

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