Paulson Holds Gold, Soros, Robertson Sell

Hedge fund managers were cautious in the latest quarter in reference to their gold investments, with John Paulson holding onto his gold investments, while George Soros sold some of his and Julian Robertson sold all of his fund's stake in Market Vectors Gold Miners ETF.

Paulson didn't sell any of Paulson & Co.'s 21.8 million shares in SPDR Gold Trust, of which the fund is the biggest shareholder in.

With the price of gold dropping, that obviously had a negative impact on the value of Paulson's stake in SPDR, as it fell from a value of $3.75 billion to $3.54 billion in the fourth quarter. During the fourth quarter spot gold prices dropped about $100 an ounce, or close to five percent.

Paulson also held onto stakes in major gold miners AngloGold Ashanti and Barrick Gold (ABX), among a number of others.

George Soros cut his position in SPDR Gold by over 50 percent from the 1.32 million he held in the third quarter to 600,000 shares in the fourth quarter.

Via Tiger Management, Julian Robertson held onto his stake in the Junior Gold Miners ETF.

All of this isn't entirely unexpected, as it was thought that gold could drop in the short term while rebounding as the year goes on.

This should be the case, with gold and other commodities jumping once the equities market begins to correct.

At this time gold is pressing down towards the $1,600 an ounce mark, with some believing it'll go below that in the not-too-distant future.