Paulson Sticking With Gold

Apr 25 2013 | 10:59am ET

Paulson & Co. is not spooked by the recent swoon in gold prices—a swoon that cost firm founder John Paulson in excess of $1 billion. But while the New York hedge fund remains confident in its huge bet on the precious metal, it warns there may be more bumps in the road.

John Reade, a partner at Paulson, told investors on a conference call yesterday that the firm would stay the course with its gold investments. Paulson's thesis is that continued quantitative easing will eventually lead to a spike in inflation that will send gold soaring.

But Reade told clients that there could be more price fluctuations in the short term, Reuters reports.

Gold suffered its worst two-day drop in 30 years earlier this month. The metal's price has since stabilized and recovered somewhat.

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