16.11.2015 - Investors Flee Precious Metals as ETF Outflows Top $1 Billion
Investors are back to dumping precious metals as gold trades near five-year lows and banks including Barclays Plc forecast more price declines. Outflows from U.S. exchange-traded funds backed by precious metals have reached $1.12 billion so far in November, heading for the first monthly loss since July, data compiled by Bloomberg show. Gold prices have fallen for four straight weeks as Federal Reserve Chair Janet Yellen signaled that officials are getting closer to raising U.S. interest rates, cutting bullion’s appeal as a store of value. Holdings in futures contracts have dropped to a five-week low...............................................Full Article: Source
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