| Commodity-based exchange traded products (ETPs) suffered record outflows of $9.3 billion in April, data showed on Thursday, as institutional investors dumped gold holdings.
Leading wealth managers have been switching out of commodities since the start of the year in favour of equities and bonds as they look for yield, a trend which accelerated in April with a major sell-off across the commodities field, led by a collapse in the gold price. Global outflows from commodity ETPs tripled month-on-month, according to Blackrock Inc, the world's largest asset manager, while redemptions from the precious metals segment quadrupled after gold's largest spot-price decline in 30 years........................................Full Article: Source
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