[miningmx.com] – METAL-backed exchange traded funds (ETFs) in the US attracted more new money this year – equal to 18% of their market capitalisation – than any other commodity group, said Bloomberg News.
An improvement in global manufacturing and automobile sales as well as gains in the US housing market lifted prospects for metals, the newswire said.
“Base metals seem to have caught investors’ attention once again,’ Vivienne Lloyd, an analyst at Macquarie in London, told Bloomberg News.
“Probably the most eye-catching story has to be nickel. It’s got people talking, and the appearance of deficit has been bounded around the concept of deficit in several markets,’ he said.
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