Gold ETFs hit new highs as currency fears proliferate
Global Investment in physically backed gold exchange-traded funds (ETFs) reached record highs of $80 billion in June. SPDR Gold Shares, the US ETF, boasted more than $50 billion in assets in the same month.
“Investors are turning from the euro and other currencies to gold because they want somewhere safe to put their funds,” says Nicholas Brooks, head of research and investment strategy at ETF Securities in London. “We have seen incredibly strong flows over the last few months – even stronger
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