05.04.2013 - Investors rotate out of gold into cyclically-geared commodities, ETP flows show
As global growth and risk appetite picked up in the first quarter of 2013, commodity investors rotated out of exchange-traded products (ETPs) linked to gold and into more cyclical commodity ETPs such as silver, copper, palladium, platinum and broad commodity trackers. As an aside, the term ‘ETP’ encompasses exchange-traded funds (ETFs), exchange-traded notes (ETNs) and exchange-traded commodities (ETCs). The latter, ETCs, are typically the preferred vehicle for commodities investment. Gold ETPs saw $9.2 billion of outflows during the quarter as improving US growth data drove up US interest rate expectations, increased speculation that quantitative easing might be ratcheted back and boosted the US dollar...............................................Full Article: Source
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