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BMO: gold, silver ETFs post big weekly inflows

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Investors are continuing to pile into gold and silver exchange-traded funds, said BMO Capital Markets. Analysts noted there have been 10 straight days of inflows into gold ETFs, based on the latest Bloomberg data. Holdings rose by 1.5 million ounces last week. “Material held in physically backed ETFs is now up 10% YTD [year to date],” BMO said. Meanwhile, silver ETFs posted inflows of 4.35 million ounces last week. Precious-metals ETFs trade like a stock but track the price of the commodity, with metal put into storage to back the shares. This gives investors exposure to metals prices without taking on certain costs such as storage and assaying. BMO also said “investors have shown strong interest in gold in the current environment of economic uncertainty and weakening global interest rates.”

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