Gold, Silver Shine Again as Investors Add $393 Million to ETFs
- Fund inflows reach highest since February on Fed rate outlook
- Wagers on price declines for gold, silver have been shrinking
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Precious metals are once again enticing investors.
After ignoring the assets for most of the year, investors added $393 million to U.S. exchange-traded funds backed by precious metals this month through Oct. 20, on course for the biggest monthly inflow since February. Gold and silver are gaining favor amid increasing expectations that the Federal Reserve could wait until next year to raise interest rates. Higher rates curb the appeal of precious metals because they don’t offer interest or yields.