Will John Paulson Dump His Gold Holdings?
John Paulson, famed for making billions ahead of the financial crash, is taking heavy losses on his gold holdings. According to Bloomberg, Paulson’s gold fund is down 28% as of March 31st.
As of the latest reporting period, Paulson hedge funds hold 21.8 million shares in the SPDR Gold Shares ETF (GLD), worth a massive $3.1 billion as of Friday’s closing price of $143.95. Whether or not Paulson decides to cut his losses or double down could have a major impact on the future price of gold.