Record Inflows For Gold Funds
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Record Inflows For Gold Funds
By Ruth Sullivan
Investors are taking flight to precious metals, particularly gold, as concerns grow about sovereign debt.
Worries over eurozone debt burden and fears of a possible resurgence of inflation are driving investors to an asset class traditionally perceived as a safe haven.
“People are looking for somewhere to put their money. They are looking at gold as an alternative currency exposure,” says Nicholas Brooks, head of research and investment strategy at ETF Securities, an exchange traded product provider.
Gold funds tracked by EPFR, the US global fund data group, saw $5.7bn (£3.9bn, €4.7bn) of net inflows in the three weeks to May 19, of which nearly $5bn went into exchange traded fund
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