Investors are selling gold exchange traded funds at a record pace as the sharp rally in equities dampens appeal for the precious metal.
Gold ETFs, which accumulate bullion and then issue shares, have become one of the most popular ways to invest in the metal since they were first launched a decade ago.
By providing investors with an easy and cheap way of trading the metal, they have helped to spur a wave of gold-buying that pushed prices up more than sevenfold to a record $1,920 a troy ounce in 2011.
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