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Gold Funds Keep Drawing Cash Even as Market Momentum Fades

  • Possible Brexit has investors looking for haven assets
  • Sterling price of bullion is near highest level in three years
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Gold Rallies on Brexit Fears

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In the run-up to the Brexit vote, investors are continuing to add money to precious-metal funds, even as the rally shows signs of slowing.

Assets in exchange-traded funds backed by gold have increased every day this month and silver holdings are near an all-time high. Investors are seeking havens as concern mounts that U.K. voters will choose to quit the European Union, which may roil global financial markets. Gold traded near a five-week high on Wednesday.