Managed Commodity Assets Fall

Managed Commodity Assets Fall

Managed commodity assets fell for the first time in over a year, said Barclay's Capital, evidently based on worries over the global economy.

Overall commodity assets under management dropped to $245 billion, a $12 billion fall from the $257 billion from last month.

In what I think is a strange response to uncertainty, investors took close to $500 million out of exchange-traded funds, with the majority of that being funds backed by gold and a variety of other precious metals.

At a time when uncertainty should drive smart investors to gold, the idea that taking it out of gold and moving it to something else is ignorant and bizarre, although obviously a lot more was happening than only that in the overall commodity managed assets picture.

Managed Commodity Assets Fall