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Twiggy turns to gold

Iron ore billionaire Andrew Forrest has a flair for being a step ahead of the pack so when he launched a share-buying raid on mid-tier Australian goldminer Regis Resources last week it raised the possibility of a safety-first shift by other investors into gold.

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Forrest's attempt to spend A$168 million to acquire a 15% stake in Regis to build on an existing 4.9% position in the financially stretched gold producer failed, but not by much.