Commodity exchange traded products gathered the most global assets of any category for November, with investors “strongly favoring” gold, ETF manager BlackRock said in a report Wednesday.
Gold ETPs have gathered $12.1 billion so far this year, far outpacing all other commodity categories, which have collectively seen net outflows of $1.7 billion.
“Price volatility in global commodity markets has not dampened the market’s enthusiasm for gold, particularly among both central banks and ETP investors,” said Kevin Feldman, managing director at BlackRock. “Ongoing speculation about significant future global monetary easing has been favorable for the commodity, as investors recognize that central banks have the capability to expand the global money supply rapidly, and gold provides a potential hedge for this scenario.”
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD.