"A false bull market in gold."
As of the end of 2009, Paulson & Co. was the largest institutional holder of the SPDR Gold Trust (GLD)--the world's largest physically backed gold exchange-traded fund--with 31.5 million shares valued at $3.38 billion.
Revelations of the hedge fund's involvement in the dispute between Goldman Sachs and the SEC raise questions about a factor that's helped drive gold to record-high prices above $1,200 an ounce--Paulson's high-profile bets.
"The bull market might be a false bull market in gold," said Keith Springer, president of Capital Financial Advisory Services in Sacramento, Calif.
Fraud? manipulation? In the gold market? I don't believe it, I'm scandalized, it's outrageous I say!
Any guesses what the POG will be 7 days hence?
My guess $850