Hedge fund manager John Paulson has a large position in the gold ETF, according to the most recent regulatory filings, and is the only investor who has ever been allowed to visit the vault where GLD stores its gold.
Paulson on Wednesday told investors he is staying the course on gold although he expects more volatility in the short term, Reuters reports.
At the end of 2012, Paulson & Co. was the largest investor in GLD with a stake equal to 65.7 tons, Bloomberg reported.
Central banks owned 31,671 tons at the end of last year, or roughly 19% of all the precious metal ever mined, according to the story.
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD.