GLOBAL - Strong inflows to oil and gold exchange traded commodities (ETCs) at the end of 2008, accor...
GLOBAL - Strong inflows to oil and gold exchange traded commodities (ETCs) at the end of 2008, according to ETF Securities (ETFS).
Inflows to gold and oil ETCs in the week ending 2 January 2009 totalled almost $65m, which ETFS said showed increasing investor confidence on the outlook for commodity prices.
Declines in the price of oil from a peak of US$150 per barrel to a low of under $40 per barrel had spurred investors into taking long positions ETFS said, while holdings in short oil ETCs had declined.
ETFS added gold ETCs rose by $42m during the week, with total inflows of $157m during December and nearly $1.2bn over the past year.
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