Gold inflows hit 13-week high amid recovery concerns

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Physical gold inflows have hit a 13-week high amounting to $236m, as investors turn defensive about the economic outlook, ETF Securities (ETFS) says.

The exchange-traded product (ETP) provider says seven of the top ten largest inflows on its commodity platform last week were into precious metals ETCs, with gold experiencing the highest inflows. ETFS says defensive positioning is on the rise, fuelled by news that the Japanese economy is barely growing, the US Fed's claim that US growth remains at risk, as well as Greek and Irish issues pushing sovereign risk concerns to the fore again. The firm's short copper ETP also experienced its largest inflows in six weeks, seeing over $15m. Investors have been profit-taking from agricultur...

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