Commodity investments fell $27 billion in April, the most in 11 months, on record sales of gold exchange-traded products, Barclays Plc said.
Gold climbed to the highest price since December on signals that sovereign-debt risk may erode the value of currencies, boosting demand for the precious metal as an alternative asset.
The two most-accurate gold forecasters are holding to their bearish forecasts for 2014 even after the metal posted its best start to a year since 1983.
Gold prices fell, capping the biggest weekly loss in five months, as some investors sold to cover losses in other markets by selling bullion.
Commodity assets under management fell to a 32-month low in June as investors pulled more money from gold-backed exchange-traded products, Barclays Plc said.
Gold rose for a fourth day in London, buoyed by the International Monetary Fund announcing that it completed a planned sale of some of its bullion reserves. Silver, platinum and palladium also advanced.
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