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Investors yank record $2.7 billion from U.S. gold funds – Lipper
Friday, April 19, 2013 2:51
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(Reuters) – Investors in U.S.-based funds pulled a record $2.7 billion out of commodities and precious metals funds in the latest week while Japanese stock funds attracted a record $1.67 billion, data from Thomson Reuters Lipper service showed on Thursday.
The outflows from commodities and precious metals funds – which are largely exposed to physical gold – in the week ended April 17 were the most in a reporting history dating back to May 2011. The price of gold bullion tumbled nearly 9 percent on Monday, shedding more than $125 per ounce in its biggest-ever daily loss.
