| 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.
An 18 percent fall in Brent crude oil futures in July prompted investors to return to the market, as many took the view that prices had troughed. "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...............................................Full Article: Source
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