Prominent hedge fund manager John Paulson continued to hold significant gold investments in the fourth quarter of 2012, even as other investors pulled out. Notable institutional investors, including George Soros, Julian Robertson and Allianz's PIMCO reduced their bets on gold during the quarter, when bullion posted its biggest quarterly loss in more than four years.
Paulson & Co owned 21.8 million shares in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, at the end of December, unchanged from Sept. 30, a filing with the U.S. Securities & Exchange Commission showed on Thursday..
Paulson is by far the biggest shareholder of the SPDR gold ETF. He has often advocated gold to offset risks related to currency exposure and U.S. dollar depreciation…..