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Investors flee gold for cryptocurrencies as inflation worries perk up
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Joe Rennison in New York and Eva Szalay and Henry Sanderson in London Investors are dumping gold for cryptocurrencies as inflation picks up, fleeing a metal historically touted as a store of value to buy digital assets little more than a decade old. More than $10bn has been pulled from the biggest gold exchange traded fund this year and funds’ physical gold hoards have also been selling down, according to Bloomberg data.
The price of gold has declined 6.1 per cent...
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