BlackRock has launched an ETF offering exposure to a variety of commodity markets for investors seeking portfolio diversification tools, at a time when the correlation between historically uncorrelated asset classes is rising.
Commodities & Resources
In their weekly update on ETF flows, ETF provider ETF Securities’ director of commodities, Nitesh Shah (pictured), writes that both robotic and cybersecurity ETPs have seen stellar inflows since their inception.
ETF Securities writes that last week saw gold, platinum and silver ETPs with USD82 million in inflows in precious metals ETPs, led by gold (USD46.8 million), then silver (USD23.9 million), platinum (USD6.8 million) and the basket (USD4.1 million).
ETF provider ETF Securities has listed two new broad commodity ETFs on the London Stock Exchange, tracking two indices from the Bloomberg Commodity Index family.
Nizam Hamid (pictured), ETF Strategist at WisdomTree in Europe, has written a note commenting on the recent OPEC meeting and how US inventories and shale rig recoveries caught traders unaware.
ETF Securities writes that last week saw the largest weekly outflows from Gold ETPs since December last year. “We saw USD160 million of outflows from gold ETPs last week after hawkish comments from the ECB and BOE and higher-than-expected German inflation.”
James Butterfill, Head of Research & Investment Strategy at ETF Securities, writes in the weekly flows report that equity ETFs saw the highest inflows last week with USD42 million.
Joe Foster, Portfolio Manager for the Gold and Precious Metals strategy at VanEck, reports that the gold price changed very little in May, recovering towards the end of the month after early weakness brought on by the French presidential election and the FOMC (Federal Open Market Committee) meeting.
ETF Securities’ weekly flows report reveals that bargain hunting drove USD79.7 million into long crude oil ETPs last week as crude oil slipped 3 per cent as US inventories withdrawals continued to disappoint.
In its weekly flows analysis, ETF provider ETF Securities writes that last week saw the price of gold peaking above USD1,290/oz. for two days as the US dollar came under pressure ahead of the testimony of former FBI chief Comey and following tensions in the Middle-East.