Paulson: Gold’s Bull Run Is Just Beginning….He’s Talking Years, Not Months

Posted By on November 20, 2009

Paulson: Gold’s Bull Run Is Just Beginning
November 19, 2009
By Simon Avery

John Paulson, lionized by many investors for his winning bet on the fall of the housing and financial markets, is now getting aboard the gold wagon.

The hedge fund manager told his investors that even at $1,150 an ounce, the bull run on gold is just beginning, according to the Wall Street Journal.

His firm, Paulson & Co., plans to launch a fund January 1st dedicated to gold mining shares and other bullion related investments, the newspaper reported.

Mr. Paulson, who is estimated to be worth about $6 billion. His bet against real estate and banks between 2007 and 2009 reportedly netted his hedge fund about $20 billion.

On Thursday, the World Gold Council reported that demand for the precious metal increased 10% in the third quarter from the previous three month period, driven by investors looking for a currency hedge and more jewelery purchases.

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