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.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply
Oil settles higher as weak US economic growth offset by supply concerns
India's Vedanta misses Q4 profit estimates on lower prices
BHP targets Anglo American in bid valuing miner at US$39 billion
China's Sinopec charts global expansion with refinery in rival India's backyard