Precious metal funds record biggest weekly outflows

Precious metal funds record biggest weekly outflows

Gold and silver mutual funds rose, their biggest outflows in three months as investors focus on investing in soaring equities and high-yielding bond markets. The rise of the precious metal funds aligned with the jump in US Treasury yields on hopes of US stimulus measures accelerating economic growth. In a report, TD Commodities said: "'gold-as-a-safe-haven' isn't incredibly appealing for investors during an incredible economic recovery." It also said Gold remains negatively correlated to 5-year/5-year forward inflation swaps, reflecting Gold's less attractive investment profile as nominal yields rise. On the other hand, investors put $43. 1 billion in equities funds, as global stocks surged on optimism over vaccine roll-outs and hopes of a bigger fiscal package from the United States. More than 570 people have been infected with the coronavirus across China and Wuhan, the city at the centre of the outbreak, has been placed under effective quarantine. Nakheel's customers include property owners, retail and hospitality tenants and small business operators. The package includes free rental periods for retail and hospitality partners who operate within the Nakheel Malls portfolio. The city's external trade in the first quarter of 2020 reached Dhs323 billion. Exports grew 2 percent to Dhs43 billion compared to