Billionaire hedge-fund manager John Paulson retreated from gold for a second quarter, even as prices posted the biggest jump in three decades, while Soros Fund Management LLC bought shares in Barrick Gold Corp.

At the end of March, Paulson & Co. owned 4.8 million shares in the SPDR Gold Trust, the biggest exchange-traded product backed by bullion, a government filing showed. That compares with 5.8 million shares at the end of December.