John Paulson and Ray Dalio believe in gold

Billionaire investor and hedge fund manager John Paulson, as well as Ray Dalio, founder of the world's largest hedge fund, remain faithful to gold. Even in the light of the yesterday's decline in the noble metal and the expectations for an accelerated rise in interest rates by the Fed.
As of March 31, the New York based Paulson Fund - Paulson & Co. has had 4.32 million shares in the largest stock-exchange SPDR Gold Shares. This, compared with 4.36 million shares of the fund in December.
Meanwhile, the Bridgewater Associates Fund also retains its stake in SPDR and iShares Gold Trust, the second largest gold-based index fund.
Gold appreciated by 1.7% in the first three months of this year, after the dollar fell for the fifth consecutive quarter. This helps the metals withstand the downward pressure on the Fed's interest rate hike.
In March, Paulson's gold fund, as well as its other funds, began to return capital to investors after their assets were down $9 billion from $38 billion in 2011.
Otherwise yesterday, gold marked a significant decline, returning below the psychological limit of $1,300 per ounce. Early this morning, the spot price of gold is at levels of about $1,294 per ounce.