Last week saw the highest inflows across commodity ETPs in over a year. Leading the trend were precious metal ETPs, which saw aggregate inflows of US$206mn….
ETF Securities Research – Nitesh Shah, Director – Research – ETFSecurities
Silver received the second highest inflows on record, as its reputation as a leveraged play on gold appears to have attracted investors. Continued interest in gold as a hedge against geo-political turbulence mirrored the rising interest in other haven currencies. Indeed demand for oil and some grains could rise on fear of supply tightness as the situation in Ukraine escalates. Silver, platinum and palladium will benefit if the pick-up in the global industrial cycle continues, while their correlation with gold may provide an additional tail-wind. Weighing on industrial metal demand was the expectation of poor Chinese manufacturing PMI data, which actually turned out marginally better than expected.
Fonte: ETFWorld – ETFSecurities
