Hedge fund Paulson & Co maintained its stake in the world's biggest gold-backed exchange-traded fund, SPDR Gold Trust, in the third quarter, bolstering the confidence of bullion investors at a time when an improving U.S. economic outlook pummeled gold prices.

Legendary investor George Soros, however, has sharply cut his stake in Barrick Gold Corp and several gold mining company ETFs after boosting his investments in the metal during the second quarter.