Billionaire hedge fund manager John Paulson stuck with his holding in the biggest exchange-traded product backed by gold as prices rebounded on the escalating tension between Ukraine and Russia.
Paulson & Co., the largest investor in the SPDR Gold Trust (GLD), kept its stake at 10.23 million shares as of March 31, a government filing showed yesterday. The holdings were unchanged for the third straight quarter.
Gold rose 7.9 percent in 2014, rallying after last year’s 28 percent plunge. Prices reached a six-month high in March as Russia annexed the Crimean peninsula. Bullion also climbed as an unusually frigid winter stymied the U.S. economy.