Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

3589

Precious metals support S&P GSCI in September

RELATED TOPICS​

The S&P GSCI increased 0.17 per cent in September led by strength in the precious metals sector, according to Standard & Poor’s.

The S&P GSCI Precious Metals Index increased 6.49 per cent in September and has returned 16.19 per cent for the year.

Year-to-date, the S&P GSCI is up 4.68 per cent.
 
Energy was little changed in September, but the S&P GSCI Energy Index decline of 4.07 per cent acted as the biggest index drag during the quarter.

The S&P GSCI Industrial Metals Index, the best performing sector in 2009 with a year-to-date return of 56.83 per cent, gained 20.72 per cent during the third quarter.
 
“In addition to the mean reversion factor from 2008 and plenty of demand from China, many analysts have suggested that metals are gaining favor due to the low opportunity cost demand of dollar based metal investing from extremely low base rates,” says Michael McGlone, director of commodity indexing at Standard & Poor’s.
 
The S&P GSCI Enhanced Index ended September with a year-to-date gain of 12 per cent, despite a 0.94 per cent decline during the third quarter.

McGlone says: “2009 has been a year favoring enhanced strategies due to extreme contango conditions in some of the energy components.”
 
The S&P GSCI Agriculture Index ended September with a year-to-date decline of 6.77 per cent on the heels of a 1.92 per cent decline during the third quarter. Despite cheaper feed prices, the S&P GSCI Livestock Index was the weakest sector during the third quarter with a 5.75 per cent decline. Year-to-date, the index has fallen 16.58 per cent.

Latest News

Iress has announced that it has extended its partnership with Dow Jones Newswires to give..
The Financial Conduct Authority (FCA) writes that in new rules, it has set out a..
GAM has announced it has reached a definitive agreement to transfer its Management Company activities..

Related Articles

infrastructure headline
The new Labour government has launched a GBP7.3 billion National Wealth Fund which will target private capital to support the UK’s growth ambitions...
The new Labour government has launched a GBP7.3 billion National Wealth Fund which will target private capital to support the..
Tom McPhail, lang cat
Today’s news of a landslide victory from the UK’s Labour party, finds that the markets had mostly factored in a widely predicted Labour win...
Today’s news of a landslide victory from the UK’s Labour party, finds that the markets had mostly factored in a..
Pensions might not feature at the top of the political parties’ manifesto promises this election, but their role in driving the UK’s growth ambitions is increasingly on investors’ agendas...
Pensions might not feature at the top of the political parties’ manifesto promises this election, but their role in driving..
Duncan Higgs, Bfinance
Bfinance has released its latest report, "Investment Management Fees: Fairness Revisited," with a comprehensive analysis of current trends and challenges in investment management fees and costs across various asset classes...
Bfinance has released its latest report, "Investment Management Fees: Fairness Revisited," with a comprehensive analysis of current trends and challenges..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by