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MIL OSI Translation. Region: Germany / Germany –

Source: Boerse Frankfurt25. June 2019. FRANKFURT (Frankfurt Stock Exchange). The significant increase in the price of gold is also a major topic on the ETF market. The price had climbed back above the $ 1,400 mark on Friday, on Tuesday morning it’s already $ 1,430 a troy ounce – the highest level in over six years. The trigger is the prospect of a relaxed monetary policy worldwide and the weak US dollar, which cheapens gold purchases outside the eurozone. Gold producers suddenly interesting again “We see high sales in gold mining ETFs, mainly purchases,” reports Sophia Wurm of Commerzbank. For example, iShares Gold Producers (WKN A1JKQJ) and VanEck Vectors Gold Miners (WKN A2AHFU) are being used. The iShares ETF is up 24.2 percent this year, but it is still in the red for three years. Wurm also saw higher demand for commodity ETFs in the gold price hike, including purchases of the iShares Stoxx Europe 600 Basic Resources (WKN A0F5UK). Wurm’s overall ETF sales last week are very good. “For one week of public holiday, 51,000 transactions are already substantial.” Cornelia Schübel of the Unicredit Group reports a slightly declining trade volume. “This is already the holiday season noticeable.” The customer review has been automatically translated from German.

“Stocks no matter where you are in the region” With the good mood in the stock markets, buying interest in stock ETFs is back. Last week, the DAX had climbed to 12,438 points in the wake of US Federal Reserve Chairman Powell, and even marked new all-time highs on Wall Street. Although Powell had kept interest rates unchanged, it signaled readiness to act during the year. At the beginning of the month, ECB chief Draghi had promised a loose monetary policy for the eurozone. On Tuesday morning, the DAX is 12,279 counters. “It’s bought, regardless of the region,” reports Wurm. Focus, as usual, is MSCI World, S


“Run on bonds” Bond ETFs are also doing well now, with bond issuance also pushing bond prices higher. “We’re seeing a big run on bonds, especially in Europe, but also in the US, due to central bank policy,” says Bruce Gunn of IMC. “We see a clear buyer overhang, especially in corporate bonds,” explains Sophia Wurm. Cornelia Schübel does not see a clear trend: she reports purchases of European corporate bonds (WKN A0RPWQ), sales of emerging market government bonds in local currencies (WKN A1JADV) as well as inflows and outflows on short-dated US government bonds and extremely short-term euro bonds (WKN A1W375). From: Anna-Maria Borse25. June 2019, © Deutsche Börse AG

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