Financial Guru John Paulson Nets $5 Billion Betting on Gold

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.
 
Jan. 31, 2011 - PRLog -- 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.

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Source:Global Gold Group
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Tags:Hedge Fund, Gold Coin, Buy Gold, Buy Gold Coin, Invest In Gold, John Paulson, Stock Market, Precious Metal, Buy Silver
Industry:Finance, Jewelry, Consumer
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