Paulson slashed bullish gold bets before prices rocketed

John Paulson, one of the world's most influential gold investors, slashed his bullish bets on bullion at the end of last year, just before the beleaguered market took off for its biggest rally in years, a federal filing showed on Tuesday.

The New York-based hedge fund Paulson & Co, led by the longtime gold bull, cut its stake in SPDR Gold Trust, the world's biggest gold exchange-traded fund (ETF), by 37 percent in the fourth quarter. It was Paulson's third cut to its SPDR stake in 2-1/2 years.

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