Paulson Maintains Gold Stake as Prices Touch Five-Year Low
- Bullion prices fell to a five-year low on November 12
- Reduces stake in AngloGold Ashanti by 1 million shares
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Billionaire hedge fund manager John Paulson stuck with his holding in the biggest exchange-traded product backed by gold, looking past slumping prices for the metal.
Paulson & Co. owned 9.23 million shares of the SPDR Gold Trust at the end of the third quarter, a government filing showed Monday. That was unchanged from the three months ended in June, when the firm cut holdings for the first time in two years.