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Trackinsight: Inflation jitters lifts Metals ETFs

01/21/2022 | 10:00am EDT

Investor uncertainty can be seen in the surging performance of ETFs tracking Short-term VIX futures.

It?s been a big week for metals with both Gold and Silver posting meaningful breakouts as equities are forced onto the back foot and markets are pricing in as many as seven interest-rate rises from the Fed this year.

Despite talk of Bitcoin replacing Gold as an inflation hedge, this has yet to materialize, and Bitcoin is down to $39,000. Investor uncertainty can be seen in the surging performance of ETFs tracking Short-term VIX futures, which have shot up as much as 16.7% this week in the case of UVXY ? The ProShares Ultra VIX SHORT-TERM FUTURES ETF, followed closely by the ProShares VIX Short-Term Futures ETF (VIXY) that rose 15%.

Against this backdrop of fear, ETFs tracking Silver, Palladium, Platinum, and Gold have jumped into the top-performing ranks after months in the shadows. The Invesco DB Silver Fund (HUZ) is up 7.8% this week, the GraniteShares Platinum Trust (PLTM) has risen 7.7%, the Aberdeen Standard Physical Palladium Shares ETF (PALL) is up 5.7%, and the WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN) up 5%. Despite the strong performance, flows into Gold and Silver ETFs have been muted with just $352 million of new flows into Gold ETF and $1.6 million of flows into Silver ETFs this week.

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ę 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.18% 0.7043 Delayed Quote.-4.31%
BITCOIN (BTC/EUR) -5.00% 28593.1 End-of-day quote.-31.97%
BITCOIN (BTC/USD) -4.70% 29826.5 End-of-day quote.-37.52%
BRITISH POUND / US DOLLAR (GBP/USD) 0.04% 1.24939 Delayed Quote.-9.40%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.05% 0.78117 Delayed Quote.-2.04%
EURO / US DOLLAR (EUR/USD) 0.07% 1.05576 Delayed Quote.-8.55%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.46% 0.012911 Delayed Quote.-3.88%
INVESCO LTD. 5.37% 18.64 Delayed Quote.-19.03%
LONDON BRENT OIL 0.31% 113.13 Delayed Quote.44.71%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.11% 0.6365 Delayed Quote.-7.99%
PALLADIUM 0.10% 2057 Delayed Quote.2.73%
SILVER 0.23% 21.65 Delayed Quote.-8.91%
WTI 0.44% 114.105 Delayed Quote.47.74%
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