Moneycontrol PRO
you are here: HomeNewsOpinion

Investors flee gold for cryptocurrencies as inflation worries perk up

More than $10bn has been pulled from the biggest gold exchange traded fund this year, according to available data

©The Financial Times Limited 2020 Oct 21, 2021 / 01:19 PM IST
All Rights Reserved. FT and Financial Times are trademarks of the Financial Times Limited Not to be redistributed, copied or modified in any way.
Investors flee gold for cryptocurrencies as inflation worries perk up

Cryptocurrency (Representative image)

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...

  • PRO Panorama

    Moneycontrol Pro Panorama | New COVID variant gives market a heart attack

    Nov 26, 2021 / 04:18 PM IST

    In today’s edition of Moneycontrol Pro Panorama: Market swoons, the mutating virus, LIC IPO, RIL’s clean energy bet, the Weekly Tactical, the Immunity Tracker, the Ola EV hype and more

    Read Now

To read the full story, Subscribe to Moneycontrol PRO

Access the exclusive stories, weekly investment ideas and daily technical calls in an Ad free experience

Already a member? Sign in

Limited Period offer on Moneycontrol PRO. Subscribe to PRO and get up to

50% OFF

What Do You Get

  • Ad free experience

    Experience a non-intrusive navigation and faster response in the ad free mode

  • Sharpest Opinions

    Access to 230+ exclusive stories per month from our editorial and Experts

  • +

    Have a Global edge with access to content from world renowned experts and journalist

  • Actionable Insights

    Access to 40+ weekly investment ideas including 4 daily technical calls

  • Virtual Events

    Exclusive access to live webinars from market experts on trading and investment strategies

  • Newsletters

    Daily and weekly insights bundled and sent to your inbox to keep you ahead in the race.

Get upto 50% discount on limited period offers