Gold ETPs see strong inflows as Ukraine crisis takes a turn for the worse. Gold saw strong inflows last week as the Russia-Ukraine crisis remained in focus. After some initial signs Russia might be stepping back from the brink, over the weekend pro-Russia groups pushed ahead with secessionist referendums in eastern Ukraine despite firm Ukrainian and Western government denouncements of the referendums as illegitimate and inflammatory. More volatility and safe haven buying seems likely this week. Meanwhile, investors built tactical positions in nickel as a market already being tightened by the Indonesia ore export ban may be further tightened if restrictions are put on Russian exports. Rumours that progress may be being made in South Africa strike negotiations by-passing the unions caused investors to take profit on long platinum and palladium positions.
Long gold ETPs see US$36mn of inflows as investors seek protection against a potential further deterioration of the Ukraine crisis. While Ukraine’s presidential elections on May 25th might be considered a step in the right direction, the situation in the Ukraine remains tense and a worsening of the crisis seems likely. Against the Ukrainian and Western governments wishes, Russian separatists in the Ukraine pushed ahead wtih a referendum on self-rule on Sunday, with the small groups polled voting for separation. While palladium and nickel are the metals most likely to see upside potential in case of a war between Russia and the Ukraine, gold is also likely to benefit from heightened risk as investors seek protection against a worst case scenarios.
Profit taking drives US$16mn of outflows from Platinum Group Metal (PGMs) ETPs. PGM prices rose sharply at the beginning of last week as the Ukrainian crisis remained in focus and strikes in South Africa continued through their 15th week. However, Russian President’s reassurance to have initiated the withdrawal of its troops from the border with the Ukraine prompted a correction in PGM prices towards the end of the week. Meanwhile, strikes in South Africa might be close to a resolution as producers are attempting to override the unions, addressing the striking miners directly. Lonmin, the 3rd largest platinum miner in South Africa, is preparing to restart its operations as early as May 14 after having asked workers directly whether they want to accept the latest offer and return to work.
ETFS Nickel (NICK) records the biggest inflows in a month as price reaches a two-year high. Vale, the world’s second-largest nickel producer, was ordered to suspend production at one of its plants in New Caledonia last week, prompting a strong reaction in price and US$5.6mn of inflows into NICK. Nickel is the best performing industrial metal year-to-date, up 40%, following on from Indonesia’s export ban and shrinking Chinese stockpiles. Despite the already large gains, potential deterioration of the situation in the Ukraine could lead to further price rises.
Investors seek diversified energy exposure, with ETFS Longer Dated Energy (ENEF) seeing US$6mn of inflows. At the same time, ETFS Heating Oil (HEAT) saw US$4.6mn of outflows last week. An EIA report showed that US crude oil inventories fell by1.8mn barrels last week, against expectations of a rise. Distillate fuel inventories also decreased while gasoline inventories continued to increase last week.
Key events to watch this week
Industrial production statistics for China, the US and the Eurozone will be coming out this week and will likely be closely monitored to gage the pace of the recovery in those 3 economies. Eurozone new car registrations will also be looked at and a particularly positive number could set platinum to rally. Investors will also likely monitor Eurozone Q1 GDP as this will be key for further action by the ECB next month
Important Information
This communication has been provided by ETF Securities (UK) Limited (”ETFS UK”) which is authorised and regulated by the United Kingdom Financial Conduct Authority.
iShares iBonds Dec 2033 Term EUR Corporate UCITSETF EUR (Dist) (33GI ETF) med ISIN IE000E0NL9T3, strävar efter att spåra Bloomberg MSCI December 2033 Maturity EUR Corporate ESG Screened index. Bloomberg MSCI December 2033 Maturity EUR Corporate ESG Screened-index följer företagsobligationer denominerade i EUR.
Indexet speglar inte ett konstant löptidsintervall (som är fallet med de flesta andra obligationsindex). Istället ingår endast obligationer som förfaller under det angivna året (här: 2033) i indexet. Indexet består av ESG (environmental, social and governance) screenade företagsobligationer. Betyg: Investment Grade. Löptid: december 2033 (Denna ETF kommer att stängas efteråt).
Den börshandlade fondens TER (total cost ratio) uppgår till 0,12 % p.a. iShares iBonds Dec 2033 Term EUR Corporate UCITSETF EUR (Dist) är den billigaste och största ETF som följer Bloomberg MSCI December 2033 Maturity EUR Corporate ESG Screened index. ETFen replikerar resultatet för det underliggande indexet genom samplingsteknik (köper ett urval av de mest relevanta indexbeståndsdelarna). Ränteintäkterna (kupongerna) i ETFen delas ut till investerarna (Årligen).
Denna ETF lanserades den 5 november 2024 och har sin hemvist i Irland.
Investeringsmål
Fondens mål är att uppnå avkastning på din investering genom en kombination av kapitaltillväxt och inkomst på fondens tillgångar, vilket återspeglar avkastningen från Bloomberg MSCI December 2033 Maturity EUR Corporate ESG Screened Index, fondens jämförelseindex
Det betyder att det går att handla andelar i denna ETF genom de flesta svenska banker och Internetmäklare, till exempel DEGIRO, Nordnet, Aktieinvest och Avanza.
Xtrackers S&P 500 Defensive Shareholder Yield UCITSETF investerar i 100 amerikanska företag som kännetecknas av hög och stabil avkastning till aktieägarna. Urvalsprocessen börjar med företag från S&P 500 som har en positiv direktavkastning. Dessa sorteras sedan efter deras direktavkastning och filtreras med hjälp av kvalitetsindikatorer som fritt kassaflöde, skuldsättning och avkastning på eget kapital.
Xtrackers S&P 500 GARP UCITSETF investerar i 100 utvalda amerikanska företag med högt börsvärde. Urvalsprocessen granskar först hållbar vinst- och intäktstillväxt och utvärderar sedan kvalitet och värde.
Xtrackers S&P 500 Market Leaders UCITSETF investerar i 50 stora amerikanska företag med högt börsvärde som anses vara marknadsledare. Företagen väljs ut baserat på deras marknadsledarpoäng, som består av hållbar marginal för fritt kassaflöde, avkastning på investerat kapital och marknadsandel.
Produktutbudet inom Deutsche Börses ETF- och ETP-segment omfattar för närvarande totalt 2 596 ETFer, 203 ETCer och 282 ETNer. Med detta urval och en genomsnittlig månatlig handelsvolym på cirka 25 miljarder euro är Xetra den ledande handelsplatsen för ETFer och ETPer i Europa.
Bitcoin’s record-breaking rally and resilient investor base reveal a maturing market. Despite brief drawdowns, over 90% of holders remain in profit, and institutional inflows continue to absorb volatility. With downside risk compressing, even a modest Bitcoin allocation will meaningfully boost portfolio efficiency across cycles.
Why is retail finance booming on Solana?
Solana’s low fees and lightning-fast transactions are powering real-world payments. With $16 billion worth of stablecoins traded on the network, Solana is bridging crypto and commerce, driving retail adoption at an unprecedented scale. This is exactly why legacy companies like Shopify and PayPal have chosen to integrate the blockchain into their businesses.
Why did Ethena’s stablecoin remain stable onchain but depegged on Binance?
On October 10, Ethena’s USDe saw a sharp depeg on Binance’s centralized exchange, plunging to $0.65, while staying stable across all decentralized finance platforms. The cause wasn’t a protocol flaw but thin centralized liquidity. The incident highlights how decentralized systems can better withstand volatility, offering transparency and resilience during market stress.
Research Newsletter
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