Paulson Puts Faith In Gold With AngloGold Ashanti Purchase

True to CFW's expectation that gold miners would continue to attract investors in the current financial climate as they turn to the precious metal as a safe haven, infamous hedge fund manager John Paulson, who made a name for himself capitalising on the problems in the mortgage-backed security markets, has bought Anglo American's remaining 11.3% stake in AngloGold Ashanti. Paulson & Co paid around US$1.3bn for the stake, US$32 per share, making it the company's second-largest shareholder. Paulson stated in January that he would start buying into gold, and he currently owns a 4.1% stake in Canada's Kinross Gold.

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