We aren’t going to bother telling you the news on Goldman Sachs being charged by the SEC with fraud over mortgage products. The notion that hedge fund Paulson & Co. is being implicated and tied to this fraud does have serious implications elsewhere. Whether it ultimately has any impact is still unknown, but the Paulson-Goldman angle is taking its toll on the gold market today. This is hitting SPDR Gold Shares (NYSE: GLD), NovaGold Resources Inc. (NYSE: NG), Kinross Gold Corp. (NYSE: KGC), AngloGold Ashanti Ltd. (NYSE: AU), and Gold Fields Ltd. (NYSE: GFI) directly as Paulson holdings. After these drops, even the non-Paulson companies will trade lower in sympathy.
Continue reading Paulson Inadvertently Kills Gold
