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Source ETF Attracts more than $500 Million
Investors have been returning to gold ‘aggressively’ this year, according to Source, one of Europe’s largest ETF providers.
Chris Mellor, Executive Director, Product Management at Source ETF, commented:
“While the risk-on move in markets in November and December coincided with Gold outflows, investors have come back in aggressively in 2017. As geopolitical risks continue to worry politicians and investors alike, we fully expect Gold flows to continue.
Chris Mellor says events in 2016 help to explain why appetite for gold is growing once again. He added: “Last year’s key drivers were market volatility, the shock of the Brexit vote and the uncertainty in the run-up to the US presidential election.
“This year we see increased political uncertainty in France and Italy and an election in Germany in September. At the same time, the US recovery doesn’t look as solid as it did, US equity valuations are getting extended and geopolitical risks, including North Korea, China, Russia and protectionism to name a few, are on the rise.
“Source has seen more than half a billion dollars of inflows to the Source Physical Gold ETC since the start of 2017, over $2 billion since the start of last year and we fully expect Gold flows to continue.”
Net new assets in Source Physical Gold have risen $500m and the gold price is up 9% in 2017
Data: Source/Bloomberg, 5 April 2017. Past performance is not a reliable indicator of future performance.
Source Physical Gold has low fees, low trading costs and high liquidity, with USD 10 million trading each day on average across European exchanges*and more than USD 4 billion of assets.
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