| Investors withdrew a whopping $2.3 billion from gold exchange-traded products (ETPs) in July as the dollar strengthened, but energy ETP inflows surged by some $1.9 billion after oil futures sold off. Investors have taken a contrarian approach to oil ETPs this year, shovelling in $8 billion in the first quarter on expectations of an oil price rebound, then withdrawing $2.67 billion in the second quarter.
"The oil price further corrected on greater inventory builds, the expectation of incremental Iranian production coming to the market, and dollar strength," said Wei Li, iShares investment strategist at BlackRock. "Speculative investors may have come in at these levels to try to find the bottom." ..............................................Full Article: Source
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