"Big players" insure by investing in gold

Paulson keeps SPDR Gold as Druckenmiller and Templeton buy Barrick Gold

The reason is clear - big players are buying gold and assets from gold mining and processing companies, which causes fear about a collapse of the risky assets such as stocks and indices.

Billionaire hedge-fund manager John Paulson maintained his position in SPDR Gold Shares, the world’s biggest exchange-traded product.

Stan Druckenmiller’s Duquesne Family O ffice LLC bought 2.85 million shares in Barrick Gold Corp.

Templeton Global Advisors Ltd. more than tripled its stake as bought 12.2 million shares in Barrick.

DoubleLine Capital Group Companies Inc. added Barrick to its portfolio, buying 35.3 million shares to become the miner’s third-largest shareholder.

LPL Financial LLC bought 1.03 million shares in iShares Gold Trust valued at $12.4 million in the first quarter.

Hedge fund Adage Capital Partners GP LLC sold 7.5 million shares in Barrick in the first quarter, paring
its holdings by almost two-thirds to to 4.67 million.

Gold for immediate delivery rebounded 8.9 percent in the first quarter, after slumping 13 percent in the prior three months.

Source: Bloomberg Pro Terminal

Jr Trader Ivan Ivanov

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