-
Gold wipes out $560 billion from central banks as equities rally
Investors are dumping gold funds at the fastest pace in two years in favor of equities, compounding a slump that has wiped $560 billion from the value of central bank reserves. Exchange-traded products linked to gold dropped $37.2 billion in 2013 as the metal reached a two-year low yesterday. Gold funds suffered net outflows of $11.2 billion this year through April 10, the most since 2011, while global and U.S. equity funds had net inflows of $21.25 billion, according to Cambridge, Massachusetts-based EPFR Global. Central banks are among the biggest losers because they own 31,694.8 metric tons, or 19 percent of all ... (full story)
- Comments
- Subscribe
- Comment #1
- Quote
- Apr 17, 2013 2:05am Apr 17, 2013 2:05am
- Guest
- | IP XX.XXX.171.52
- Comment #2
- Quote
- Apr 17, 2013 3:03am Apr 17, 2013 3:03am
- hayseed
- Joined Nov 2006 | Status: Member | 314 Comments
to trade and code, keep both simple... no call to impress....h
- Comment #3
- Quote
- Apr 17, 2013 4:43am Apr 17, 2013 4:43am
- simple mas
- | Joined Jan 2013 | Status: Member | 15 Comments
- Comment #4
- Quote
- Apr 17, 2013 9:14am Apr 17, 2013 9:14am
- liberty458
- | Joined Aug 2006 | Status: Member | 525 Comments | Online Now
- Comment #5
- Quote
- Apr 17, 2013 10:56am Apr 17, 2013 10:56am
- frx_trader
- | Joined Jun 2012 | Status: Analyst | 3129 Comments