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3 August 2013

Berita Semasa 3 Ogos 2013 ...



Silver ETFs witness positive inflows despite continued gloom in Gold ETFs


In Gold ETFs, half a ton was added to the holdings on Wednesday, the first time since mid-June while net redemptions ahve reached 49.5 tons in July and year-to-date redemptions have reached 634.8 tons. Barclays expects prices not to move up due to seasonal weakness while China demand remains high.

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Weak gold prices are putting pressure on gold ETF redemptions even as silver ETFs have witnessed positive flows year to date at 396 tons.�

"On a positive note, prices trading above $1300/oz neutralises the minimum amount of cash negative ETPs, whereas prices trading below $1300/oz makes an additional 160 tonnes become loss-making at least. ETP flows stabilising would bode well for gold; however, even above $1300/oz, flows remain negative," Barclays Resesearch said in a weekly note.

In Gold ETFs, half a ton was added to the holdings on Wednesday, the first time since mid-June while net redemptions ahve reached 49.5 tons in July and year-to-date redemptions have reached 634.8 tons. Barclays expects prices not to move up due to seasonal weakness while China demand remains high.

China's first Gold ETF raised $261 mn or equivalent of 6 tons of gold (CNY 1.6 bn).�

"In contrast to gold ETP flows, silver flows have not only been positive for the year to date (396 tonnes), but on Wednesday they recorded the largest daily inflow since mid-January at 144 tonnes. Investors are viewing the lower prices as a buying opportunity. However, as we have highlighted previously, a sizeable amount of ETPs are cash-negative by a large margin; in turn, we expect these potential outflows to place downward pressure on prices," Barclays said.

Sumber : Google

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