27
August
ETFS Physical Gold sees record 1-day inflow
27 August 2009 Reuters
Nicholas Brooks, head of research at ETF Securities, said the fund had seen more inflows over the last week than at any time since its initial listing. By Tuesday the fund's holdings were up 18 percent from the Monday before.
"Investors are being increasingly wary about the recent rally in risk assets, and I suspect they are using gold as a hedge against the possibility of a correction," Brooks said.
Gold prices have held firm in 2009, spending most of the year above the $900 an ounce level, as fears over the outlook for the global economy sparked buying of the precious metal as a haven from risk.
http://www.reuters.com/article/rbssConsumerFinancialServices/idUSLQ2549020090826
