Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Trading

Gold, silver funds see biggest weekly outflows in three months

Published : 4 years ago, on

(Reuters) – Gold and silver mutual funds and ETFs witnessed the biggest outflows in three months in the week ended Feb. 10 as investors put their money into soaring equities and high-yielding bond markets.

Investors net sold $1.4 billion in precious metal funds in the week ended Feb. 10, according to weekly data available for 338 precious metal funds on Refinitiv Lipper.

(Graphic: Flows into precious metal funds, https://fingfx.thomsonreuters.com/gfx/mkt/ygdvzedmmpw/flows%20into%20funds.jpg)

On the other hand, investors put $43.1 billion in equities funds, as global stocks surged on optimism over vaccine roll-outs and hopes of a bigger fiscal package from the United States.

iShares Silver Trust saw outflows of $919.1 million, while SPDR Gold Shares had net sales of $621 million in the last week.

The outflows from precious metal funds also came as the U.S. Treasury yields hit an over 6-month high, on hopes large stimulus measures from the United States would accelerate the country’s economic growth.

(Graphic: Biggest outflows in the week ended Feb. 10, https://fingfx.thomsonreuters.com/gfx/mkt/gjnvwzxajpw/precious%20metal%20funds.jpg)

The data showed global bonds also had inflows of $18.03 billion in the week ended Feb. 10.

“‘Gold-as-a-safe-haven’ isn’t incredibly appealing for investors during an incredible economic recovery,” said TD Commodities in a report.

It also said gold remains negatively correlated to 5-year/5-year forward inflation swaps, reflecting gold’s less attractive investment profile as nominal yields rise.

(Graphic: Correlation between forward inflation swap and gold prices, https://fingfx.thomsonreuters.com/gfx/mkt/azgpoeknjpd/correlation.jpg)

On the other hand, investors have been piling into some platinum ETFs in the past few weeks, the data showed.

GraniteShares Platinum Trust had an inflow of $4.6 million in the week ended Feb. 10.

Platinum prices soared to their highest in nearly 6-1/2 years on Tuesday, fuelled by expectations a rebound in the global economy would stoke demand for the metal used in autocatalysts.

(Reporting By Patturaja Murugaboopathy; Editing by Krishna Chandra Eluri)

Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post