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Precious metals funds worldwide bleed US$1.2b, most since Dec '13: BofA

[NEW YORK] Investors worldwide pulled US$1.2 billion out of precious metals funds in the week ended July 29, marking the biggest weekly outflows from the funds since December 2013, data from a Bank of America Merrill Lynch Global Research report showed on Friday.

The outflows from the funds, which mainly invest in physical gold, came after sizable US$1.1 billion withdrawals over the prior week.

Stock funds worldwide attracted small US$200 million inflows, according to the report, which also cited data from fund-tracker EPFR Global. That marked the fourth straight week of inflows into stock funds.

Bond funds posted US$400 million in outflows to mark their first withdrawals in three weeks.

REUTERS