Torex Gold meets 2024 guidance while prepping Media Luna in Mexico
The Toronto-based company produced 452,523 oz. gold last year, it said Thursday.
John Paulson told clients last week that he would not personally invest any more money into his gold fund, according to Bloomberg.
Paulson also couldn’t forsee an uptick to inflation that might spur gold.
Paulson’s self-named PFR Gold Fund is down 63% year to date. At the start of the year Paulson had $1 billion of his own money in the fund, a stake now worth $370 million.
Outside of gold, Paulson’s funds showed success with year-to-date returns of 15% to 45%, reported the Wall Street Journal. Paulson’s best performer was the recovery fund with investments in hotels and insurance.
On a rare television appearance on CNBC this past summer Paulson touted the overall performance of his funds.
“In 2013, you know we are having a very strong year,” said Paulson.
“We get a lot attention for the gold fund, which is down because gold prices are down but the gold fund is only 2% of our assets. The rest of our funds are very profitable.”
Comments
Anthony Maw
American and other “western” capitalist investors abandon the gold sector in favor of their fiat-money based paper trading games. The US Fed is “throwing cocaine into the drug party” through 85bn of QE every month and spin-doctoring how great their sagging economy really is. Meanwhile the Chinese and Indians both openly and secretly hoard as much physical gold bullion as they can get their hands on. Makes you go hmmm…..