Paulson gold fund 'sheds 23% in June' as 2013 losses deepen

Hedge fund manager John Paulson's gold fund has posted its third successive double-digit monthly loss and now stands down 65% this year, according to reports.

The PFR Gold fund lost 23% in June, a month in which the price of the precious metal slumped 12% on concerns the Federal Reserve may begin scaling back its asset purchase programme. The $300m fund, which is largely made up of Paulson's own money, has now sustained year-to-date losses of 65%, according to Bloomberg and Reuters. Paulson (pictured) remains in the black in his other portfolios year-to-date, according to the agencies. The price of gold fell 26% in the first six months of the year, and 23% in the second quarter alone, as the precious metal lost its 'safe haven' status f...