| Declines in precious metals prices drove a drop of more than $20 billion in commodity exchange-traded product holdings in 2014, according to ETF Securities Ltd. Assets under management in commodity ETPs fell $20.6 billion to $101.5 billion by the end of the year, according to a report published by the Jersey, U.K.-based company today.
Some 70 percent of the decline was attributable to precious metal ETPs, the value of which slid $14.8 billion to $79 billion. Record inflows into energy products, mostly crude oil, in the final quarter partially offset the annual decline in global ETP values.“With the Federal Reserve having pushed out of quantitative easing and looking to interest rate hikes and as the dollar rallied quite considerably, gold has just been an unfavored asset,” Nitesh Shah, an associate research director at the company, said..............................................Full Article: Source
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