Billionaire Paulson may not have lost his appetite for Gold: Saxo Bank

See on Scoop.itincome online

LONDON (Bullion Street): Billionaire investor Paulson may have caused a crash in gold prices to $1180 levels in June as he sold 1.1 mn ounces held in the world’s largest physically backed gold ETF, SPDR Gold Shares (GLD) in the second quarter of 2013 while gold holdings declined by 402 tons in ETFs.

Now that US gold futures for December delivery has hit a high of $1378.9 before falling back to $1362.9 on Thursday electronic trading. But has Paulson lost his interest in Gold? According to Ole S Hansen, Head of Commodity Strategy at Saxo Bank, it is very unlikely  that Paulson has lost interest in gold. He could have moved his investments into swap markets where it is slight cheaper on the funding side and is also easier for investors to remain anonymous. …

See on www.bullionstreet.com

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