Gold Selloff Drives Commodity Investments to Lowest in 32 Months
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Commodity assets under management fell to a 32-month low in June as investors pulled more money from gold-backed exchange-traded products, Barclays Plc said. Assets fell a record $63 billion for the second quarter.
Assets dropped to $349 billion from $367 billion in May, the London-based bank said in a report e-mailed today. Investments in precious-metals ETPs slid to $107 billion from $122 billion. Assets held in gold-backed ETPs declined 66.5 metric tons to a three-year low, a sixth month of redemptions, data compiled by Bloomberg show.