Gold, silver funds see biggest weekly outflows in three months – Reuters

Dhwani Mehta FXStreet

Amid the revival of the reflation trades, gold and silver mutual funds and exchange-traded funds (ETFs) witnessed the biggest outflows in three months in the week ended Feb. 10,. according to the weekly data available for 338 precious metal funds on Refinitiv Lipper.

Key takeaways

“Investors net sold $1.4 billion in precious metal funds in the week ended Feb. 10.”

“investors put $43.1 billion in equities funds, as global stocks surged on optimism over vaccine roll-outs and hopes of a bigger fiscal package from the United States.”

“iShares Silver Trust saw outflows of $919.1 million, while SPDR Gold Shares had net sales of $621 million in the last week.”

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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