Gold Traders Get More Bullish as Billionaire Paulson Says Buy

Source: Bloomberg, Nicholas Larkin  (2/17/12)

"Gold traders are getting more bullish after billionaire hedge-fund manager John Paulson told investors it's time to buy the metal as protection against inflation caused by government spending."


Bloomberg, Nicholas Larkin

Gold traders are getting more bullish after billionaire hedge-fund manager John Paulson told investors it’s time to buy the metal as protection against inflation caused by government spending.

Twelve of 22 surveyed by Bloomberg expect prices to gain next week and five were neutral. Paulson & Co. is already the biggest investor in the SPDR Gold Trust, the largest exchange- traded product backed by bullion, with a stake valued at $2.9 billion, a Securities and Exchange Commission filing Feb. 14 showed. Investors have 2,389.7 metric tons in ETPs, within 0.2 percent of the record reached in December and more than all but four central banks, according to data compiled by Bloomberg. . .View Full Article

Related Articles

The Gold Report The Gold Report