Market panic pushes gold buying to highest level since financial crisis

The stock market plunge has triggered a gold buying spree with a popular fund that tracks the metal accepting the most cash on a single day since the financial crisis on Tuesday.

Index fund provider ETF Securities told Telegraph Money that February 9 saw the most money flow into Gold Bullion Securities, its gold tracking fund, since January 2009. Investors poured in £239m.

James Butterfill, head of research, said investors had become more cautious and were buying gold to shelter from stock market volatility .... http://www.telegraph.co.uk