Investors Favour Mines' Shares over Physical Gold
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Investors Favour Mines' Shares over Physical Gold BYLINE: Debarati Roy INVESTORS seeking a hedge against a waning US economic recovery and escalating conflict in Ukraine have made twice as much money buying gold- mining shares rather than the metal. The Market Vectors Gold Miners exchange- traded fund (ETF) has climbed 27 percent this year, more than double the 13 percent advance for the SPDR Gold Trust, the biggest exchange- traded product backed by bullion. This is the first quarter the company fund is outperforming the metal ETF since 2012. Assets in the fund tracking the producers have expanded 6 percent in the past four weeks, compared with a 2. 7 percent gain for the gold trust, data show. Investors are returning to the shares after companies in the benchmark Philadelphia gold & silver index traded at the cheapest ever relative to the price of bullion in December last year. Last year's 28 percent plunge for the precious metal, the bigge