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Gold firmed again overnight, with U.S. gold futures for April delivery up 0.9% to US$1,242.30 an ounce.
The metal has risen by 16% this year so and was heading up again with more notable inflows into exchange traded funds (ETFs).
According to market researcher Markit, investors piled into gold ETFs at a record pace over February.
“Global aggregate fund flows into the asset class came in at $7.9bn over the month, beating an inflow record set over the worst of the financial crisis in 2008.”
Inflows relative to AUM (assets under management) have been equally impressive it said as last month’s tally represents around 15% of the asset managed by all gold ETFs at the start of the month.
It is only third time in the last nine years that gold ETFs have seen inflows greater than 10% of the number at the start of the month.
Markit added that the trend also shows no signs of slowing down as yesterday saw investors shift US$833mln into global gold ETFs, the fourth largest daily inflow of last month.
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