by Eddie Van Der Walt
Investors bought record amounts of gold in the first half as concerns over Britain’s vote on European Union membership and U.S. presidential elections drove demand for a haven.
Slumping yields also reduced appetite for alternatives like stocks and bonds.
Purchases of 1,064 metric tons smashed a 2009 record by 16 percent, the World Gold Council said in a report Thursday. In the second quarter alone, investor demand more than doubled to 448.4 tons from a year earlier. Higher prices hurt jewelry demand and increased supply from hedging and scrap.