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.
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