Investors Abandon Gold, Equities Turn To Bonds

Gold was the hottest investment during the first half of 2016 but now, according to figures from Bank of America, investors seem to be turning cautious on the yellow metal. According to Bank of America’s July 28 Flow Show report, which is compiled by Chief Investment Strategist Michael Harnett and uses data from EPFR Global, outflows from precious metal funds amounted to $0.5 billion over the past week, the first outflow in nine weeks. Redemptions from gold funds also totalled $0.5 billion the largest recorded level of redemptions in eight months. Mutual Funds See 10 Consecutive Weeks of Outflows As…