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Chinese Investors Join Gold Rush for Haven After Brexit Turmoil

  • Turnover in China’s top gold ETF surges to record after Brexit
  • Bullion back in spotlight amid curbs on speculative trading

Chinese investors are rushing to gold as a haven after the U.K.’s vote to quit the European Union.

Turnover in Huaan Yifu Gold ETF, China’s top exchange-traded fund backed by bullion, jumped to a record 1.27 billion yuan ($191 million) Friday after Britain’s vote, said David Xu, managing director for indexing and quantitative investments division at the Huaan Asset Management Co., the manager of the fund. Outstanding shares of Huaan also reached a record 1.6 billion on June 20, jumping five-fold from the start of the year, he said.