Oil ETP inflows continue amid supply disruptions
ETF Securities Weekly Flows Analysis – Oil ETP inflows continue amid supply disruptions
Highlight

Long oil ETPs see a third consecutive week of inflows as supply disruptions extend price gains
Gold outflows continue, albeit at a reduced pace
Profit-taking appears to have driven the largest cotton ETP outflow seen since 2016

Long oil ETPs see a third consecutive week of inflows as supply disruptions extend price gains. These three weeks of inflows mark the longest period of sustained inflows since June 2017. There were US$8.6mn of inflows last week …

Gold ETPs took the lion’s share of outflows
ETF Securities Weekly Flows Analysis – Gold ETPs took the lion’s share of outflows
Highlight

Gold can’t seem to find a floor
Strong copper fundamentals appear to defy trade war threats
Falling nickel prices continue to attract bargain hunters

Gold can’t seem to find a floor. Gold ETP outflows surged last week by US$119.7mn, marking the third consecutive week of outflows as gold prices shed 0.81% last week, declining to US$1231.1. We believe the testimony of Fed Chair Powell before the US Senate had a strong role to …

Gold outlook – gold to flatline out to June 2019 in the absence of shocks
Gold outlook – gold to flatline out to June 2019 in the absence of shocksby Nitesh Shah, Director, Research
Although the environment of elevated geopolitical risk is normally associated with higher gold prices, recently very little of that anxiety has been expressed in gold. Gold is being weighed lower by a rising interest rate environment in the US. An appreciation of the US Dollar (up 1.6% over the past month) is also weighing on the yellow metal’s …

Focusing on Gold’s Resilient Base
Gold and Precious Metals – Focusing on Gold’s Resilient Base
Gold Trended Higher Early, But Ended April Slightly Down as Dollar Strengthened
Gold trended higher in early April due to trade tensions between the U.S. and China, prospects of airstrikes on Syria, and heightened inflation expectations following a higher than expected March Producers Price Index (PPI)1 and a 2.1% annual rise in the core Consumer Price Index2. Gold topped at $1,365 per ounce on April 11. This level has been the proverbial price ceiling for gold since 2014. …

Investors appear to rotate from gold to silver ETPs
ETF Securities Weekly Flows Analysis – Investors appear to rotate from gold to silver ETPs
Highlights

Silver ETPs receive highest weekly inflows since January 2015.
Equity contrarians looking to buy Italian ETFs.
Long crude oil ETPs saw US$45mn outflows as WTI oil declined the most in 10 weeks.

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Silver ETPs receive highest weekly inflows since January 2015. Silver’s underperformance relative to gold has been correcting in recent weeks. The gold-to-silver ratio has declined to 78 on 25th May from a 2-year high of …