For Some Investors, Gold Is Still a Good Bet

Gold prices plunged the most in 32 years last year, taking the shine off the metal for many investors. But others see opportunity in gold's drop.

Hedge funds like San Francisco-based Passport Capital are scooping up gold, the Journal reports. "If Indian buyers come back and Chinese buying keeps growing, sentiment could change," John Burbank of Passport told the Journal.

Vermilion Asset Management LLC plans to open its first fund dedicated to gold and other metals, the Journal reports.

Some gold bulls never lost faith in the metal. John Brynjolfsson of the Armored Wolf hedge fund told the Journal that gold will still "provide good insurance against crisis, higher taxes and inflation risks."