Financial Guru John Paulson Nets $5 Billion Betting on Gold

PRLog (Press Release) - Jan. 31, 2011 - Financial guru John Paulson of hedge fund Paulson & Company made $5 billion dollars last year betting on the strong upward movement in the price of gold. The price of gold coins increased more than 30 percent last year as investors moved cash into the precious metal due to the economic uncertainty that hit global financial markets.

Paulson’s gain topped the $4 billion he made in 2007 betting on the mortgage meltdown and the resulting bank collapse by shorting subprime mortgage securities. According to the New York Times, Paulson’s hedge fund has a large position in gold securities – roughly the equivalent of 96 metric tons of the shiny metal.

Global Gold Group can help you add some gold to your portfolio. They offer government issued gold coins for sale, such as the American Eagle, Chinese Panda, Canadian Maple Leaf and even the South African Krugerrand. For more information about gold coin investments, such as the gold-backed IRA transfer and 401k rollover, please check out their website at http://www.aglobalcurrency.com.