{"id":107152,"date":"2021-02-16T07:46:33","date_gmt":"2021-02-16T07:46:33","guid":{"rendered":"https:\/\/fin2me.com\/?p=107152"},"modified":"2021-02-16T07:46:33","modified_gmt":"2021-02-16T07:46:33","slug":"gold-silver-funds-see-biggest-weekly-outflows-in-three-months","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/gold-silver-funds-see-biggest-weekly-outflows-in-three-months\/","title":{"rendered":"Gold, silver funds see biggest weekly outflows in three months"},"content":{"rendered":"

(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.<\/p>

FILE PHOTO: Granules of 99.99 percent pure gold and silver are seen in glass jars at the Krastsvetmet non-ferrous metals plant, one of the world’s largest producers in the precious metals industry, in the Siberian city of Krasnoyarsk, Russia November 22, 2018. REUTERS\/Ilya Naymushin\/File Photo<\/figcaption>

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.<\/p>\n

(Graphic: Flows into precious metal funds, )<\/p>\n

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.<\/p>\n

iShares Silver Trust saw outflows of $919.1 million, while SPDR Gold Shares had net sales of $621 million in the last week.<\/p>\n

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\u2019s economic growth.<\/p>\n

(Graphic: Biggest outflows in the week ended Feb. 10, )<\/p>\n

The data showed global bonds also had inflows of $18.03 billion in the week ended Feb. 10.<\/p>\n

\u201c\u2018Gold-as-a-safe-haven\u2019 isn\u2019t incredibly appealing for investors during an incredible economic recovery,\u201d said TD Commodities in a report.<\/p>\n

It also said gold remains negatively correlated to 5-year\/5-year forward inflation swaps, reflecting gold\u2019s less attractive investment profile as nominal yields rise.<\/p>\n

(Graphic: Correlation between forward inflation swap and gold prices, )<\/p>\n

On the other hand, investors have been piling into some platinum ETFs in the past few weeks, the data showed.<\/p>\n

GraniteShares Platinum Trust had an inflow of $4.6 million in the week ended Feb. 10.<\/p>\n

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.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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