18.07.2014 - Commodity ETFs in Rough Patch as World Bank Turns Bearish
Issuing a bad omen for commodity-related exchange traded funds, the World Bank believes precious metals, oil and soft commodity prices are set to drop. Broad commodity ETFs have underperformed the broader market this year, with the PowerShares DB Commodity Index Tracking Fund flat, the iPath Dow Jones-UBS Commodity Index Total Return ETN up 3.1% and the iShares GSCI Commodity-Indexed Trust 0.9% higher. Now, the World Bank expects precious metals prices to fall as investors shift away from safe-haven assets and into riskier plays on the expanding U.S. economic outlook and higher borrowing, reports Millie Munshi for Bloomberg...............................................Full Article: Source
Print