Gold wipes $560bn from central banks as equities rally

by | May 16, 2013 9:54 am



Investors are dumping gold funds at the fastest pace in two years in favour of equities, compounding a slump that has wiped $560 billion from the value of central bank reserves, Bloomberg reports. Exchange-traded products linked to gold dropped $37.2 billion in 2013, as the metal reached a two-year low last week. Gold funds suffered…

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