Gold and silver shine again as investors add US$393m to ETFs

New York

PRECIOUS metals are once again enticing investors.

After ignoring the assets for most of the year, investors added US$393 million to US exchange-traded funds backed by precious metals this month through Oct 20, on course for the biggest monthly inflow since February. Gold and silver are gaining favour amid increasing expectations that the Federal Reserve could wait until next year to raise interest rates. Higher rates curb the appeal of precious metals because they don't offer interest or yields.