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Investors dump gold ETFs in second quarter

Posted on 05 July 2013

Investors dumped units of gold exchange-traded funds on an unprecedented scale in the second quarter, London-based ETF Securities said, as a brightening macroeconomic outlook tarnished the metal’s appeal as a haven and the hunt for yields drove investors elsewhere.
Global gold ETFs registered net outflows of $18.5 billion in the March-to-June period, the largest quarterly selloff since ETF Securities launched the first gold ETF in 2003, the firm said Thursday. This accounted for more than 90% of the $19.6 billion of outflows from total commodity ETFs in the second quarter. Estimates from other industry experts have been similar………………………………………..Full Article: Source


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