Barclays: Commodity AUM Highest Since 2013; Gold Plays Role
Total commodity assets under management (AUM) hit an estimated $305 billion in October, the highest level since 2013, Barclays reports. This has been helped by a year-to-date inflow into exchange-traded products for precious metals. Total commodity AUM are up $40 billion from the end of 2016. “Inflows to the sector reached $13.3 billion in Q3 and $0.4 billion in October, bringing year-to-date investment inflows to roughly $30 billion,” Barclays says. “Rising commodity prices accounted for remaining $10 billion of AUM growth.” For ETPs only, AUM increased by $5 billion in September but retreated in October by $3 billion. Rising commodity prices meant a $3.7 billion boost in September, but a turnaround in October, particularly for gold, trimmed this by $2.9 billion, Barclays says. “Total commodity ETP inflows reached $1.3 billion in September, while activity in October was much more muted (+$240 million).” Since the end of 2016-end, total commodity AUM in ETPs are up nearly $19 billion due to a combination of net inflows ($9 billion) and higher commodity prices ($10 billion), Barclays says. Year-to-date inflows to ETPs were driven primarily by precious metals ($8 billion), but energy ETPs also experienced inflows of nearly $3 billion as investors sought exposure to natural gas.
By Allen Sykora of Kitco News; email@example.com
MKS: 100-Day Average Acting As Pivot Point For Gold
Thursday November 16, 2017 09:59
Gold is right around its 100-day moving average, with MKS (Switzerland) S.A. describing this area and just above as a pivot point for the metal. As of 9:46 a.m. EST, spot metal was up $1.95 for the day to $1,279.75 an ounce. “Interest toward $1,279 (100-day moving average to) $1,282 looms as a pivot point for gold over the near term, with a consolidated break once again opening up a test into the $1,290s and potentially $1,300,” says Sam Laughlin, senior precious-metals trader. “Downside support has been evident around $1,275 during Asian hours today, while Tuesday’s $1,270 low should see resting bids, with strong support below this at the 200 DMA of $1,264.50.”