Gold Gain Obscures Fund Outflow as Investors Buy Equities
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The rising value of gold this year hasn’t translated into more buyers.
As prices rose 10 percent since the end of December, the best start to a year since 2010, investors pulled $562 million through June 27 from U.S. exchange-traded funds backed by precious metals, extending a holdings slump that began in early 2013, data compiled by Bloomberg show. That compares with a $47.6 billion inflow for equity funds in the first six months as the MSCI All-Country World Index of shares rose 4.9 percent.