For exchange-traded fund investors in Europe, not even the uncertainty surrounding Brexit or anxiety over upcoming elections in the region have been enough to get them to hold onto their gold.
Money has been moving out of ETFS Physical Gold, the largest U.K.-listed ETF backed by the metal, amid rising bets that the Federal Reserve will boost U.S. interest rates this month.
The fund has had outflows in three straight sessions, as the prospect of higher borrowing costs curbs the appeal of non-interest bearing gold.
Source: Bloomberg
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