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Gold ETCs gain nine-figure inflows

Cautious investors are moving into gold, new figures suggest.US firm ETF Securities has said that there have been over £115 million of inflows into physical gold-backed ETCs over the past week.These are a type of investment vehicle attached to identifiable gold bars - in other words, assets which are unable to default.This "flight to safety" came following a week of huge drops on share indices worldwide.London's FTSE 100, for example, lost 21 per cent of its value over the five-day period.Explaining the trend, Nik Bienkowski, chief operating officer at ETF Securities, said: "In volatile times like these, gold comes into its own. "It is used as a store of value and a safe haven. In addition, it has been shown to have no correlation with equities, thereby providing additional diversification benefits to investment portfolios."The gold-backed ETC sector is worth around £2.6 billion.

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