Dec
06
From Hot to Not, Investors Exit Gold Funds in Switch to Equities
By-
Precious-metals ETFs see fastest cash outflow since May 2013
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After early 2016 gain for bullion, Trump election dims outlook
Donald Trump has not been good to gold.
After starting 2016 as the world’s hottest commodity, bullion’s prospects have dimmed since the election and investors are pulling money out at the fastest rate in three years.
Over the past month, exchange-traded funds backed by precious metals saw a net outflow of $6.24 billion as gold prices tumbled to a 10-month low, according to data compiled by Bloomberg. As the money exited, ETFs tied to equity markets saw an inflow of $75.81 billion, helping to send the Standard & Poor’s 500 Index to an all-time high…
From Hot to Not, Investors Exit Gold Funds in Switch to Equities
