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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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© 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.87% 0.716 Delayed Quote.-2.23%
BITCOIN (BTC/EUR) -2.08% 26643.4 End-of-day quote.-36.61%
BITCOIN (BTC/USD) -2.09% 28578 End-of-day quote.-40.13%
BRITISH POUND / US DOLLAR (GBP/USD) 0.09% 1.26275 Delayed Quote.-6.75%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.33% 0.7853 Delayed Quote.-1.03%
EURO / US DOLLAR (EUR/USD) -0.01% 1.07317 Delayed Quote.-5.61%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.05% 0.012892 Delayed Quote.-4.10%
INVESCO LTD. 1.56% 19.54 Delayed Quote.-15.12%
LONDON BRENT OIL 1.52% 119.2 Delayed Quote.50.58%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.83% 0.6534 Delayed Quote.-5.22%
PALLADIUM 2.70% 2073.5 Delayed Quote.6.12%
SILVER 0.00% 22.1 Delayed Quote.-5.50%
WTI 0.94% 115.083 Delayed Quote.51.34%
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