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Goldcorp Inc. Message Board

  • mjmjam50 mjmjam50 Mar 7, 2013 12:17 PM Flag

    Paulson’s Gold Fund Lost 18% in February: Bloomberg

    Hedge-fund manager John Paulson’s $900 million Gold Fund posted an 18% decline last month, whacked by the tough month for gold and related equities, Kelly Bit of Bloomberg News reports:

    The $900 million Gold Fund, which invests in bullion- related equities and derivatives, is down 26 percent this year, Paulson & Co. said yesterday in a client update obtained by Bloomberg News. The firm’s Advantage funds also fell in February after the metal and related stocks weakened as signs of economic optimism curbed gold demand.

    Paulson is the single biggest owner of the SPDR Gold Trust (GLD), the popular gold exchange-traded fund. Last quarter, his hedge funds held onto positions in gold miners such as Anglogold Ashanti (AU), Barrick Gold (ABX), Novagold Resources (NG), and Agnico Eagle Mines Ltd. (AEM).

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