Precious metals assets under management declines in July

London (Aug 28)  Assets under management in precious-metals exchange-traded products stood at $107 billion as of July, down from $111 billion in June and $109 billion in May, said Barclays.

 Total commodity investor assets under management climbed to multi-year highs in July, driven by index inflows.

 However, the amount in precious metals dipped slightly last month. Since the bank’s last update for May, commodity assets under management fell in June to $271 billion from $278bn; however, they increased by $20 billion in July to $291 billion.

 The main driver of the decline in June AUM was a weaker commodity complex. This reversed in July, boosting AUM by roughly $6 billion, while inflows during the month added $13.4 billion.

 Meanwhile, assets under management in gold stood at $124 billion as of July, down from $126 billion in June and $125 billion in May, Barclays reported.

Source: ScrapRegister