Metals Market Report Archive

May 2013, Week 3 Edition

The Wall Street Journal headlined the fact that "Gold U." (Texas) has suffered from a drop in gold prices due to its $1.1 billion holdings in gold for the University of Texas Investment Management Co (Utimco). Chief executive of the fund, Bruce Zimmerman, began buying gold futures at $950 per ounce in 2009 and says he may buy more gold at today's lower prices: "Utimco is holding tight to its stash of the metal and even is thinking about buying a bit more." Even with the recent price decline, Utimco's gold positions are up a net 17%.