European investors are increasing purchases of gold as Greece'sturmoil boosts the appeal for an alternative to the euro.

Demand from Greek customers for Sovereign gold coins was doublethe five-month average in June, the U.K. Royal Mint said in anemailed statement. CoinInvest.com, an online retailer, said saleson Saturday and Sunday were the highest since Cyprus limited cashwithdrawals in 2013, driven by a jump in German, French, and Greekbuyers.

Investors are searching for a safe haven after Greece imposedcapital controls, closed banks and stopped selling gold coins tothe public until at least July 6. German Chancellor Angela Merkeland French President Francois Hollande have signaled they'vereached the limits of their ability to safeguard Greece, offeringthe government no further concessions to step back from thebrink.

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