Gold stokes commodity ETP demand

upward_graph_410Turnover of European commodity exchange-traded products (ETPs) surged last week, with gold-related offerings leading the charge. A weekly trading report from Lyxor ETFs showed trading levels for commodity ETPs increased by 71.4% compared with the previous week.

Only country-specific ETPs saw a greater turnover, although this figure was down 7.3%.

Two gold products from exchange-traded commodities specialist ETF Securities registered the second and third highest turnover among European ETPs. Swiss groups Zürcher Kantonalbank and Credit Suisse also had gold products in the top ten.

Although gold has captured most of the commodities headlines, other precious metals are also attracting interest. ETF Securities’ highest net inflows last week were into platinum and silver ETPs.

Lyxor last week reported that the assets under management in commodity ETPs (€42.7bn) had outstripped those of fixed income ETPs (€41.4bn) for the first time ever. Total European ETP assets stood at €243bn.

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