by Paula Schaap ,Senior Reporter , September 24, 2010
Hedge fund manager John Paulson reportedly could be going all out on gold in an attempt to make a killing if the precious metal continues its climb.
Paulson’s $600 million gold fund is up 15% through August, according to a Forbes report.
Besides gold ETFs, Paulson’s fund is invested in gold mining companies, a fairly typical play by hedge fund managers.
George Soros and David Einhorn have also invested in ETFs and miners, using their bets as a hedge against inflation.
Recently, however, Soros said he thought gold could be the “ultimate bubble.”
Gold closed at $1,294.50 per troy ounce Thursday, an all-time high.
Source: www.hedgefund.net
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