Market Moves: Week Ending 13 September 2024

  • Precious metals and precious metal miners (ETPMPD, GDX, MNRS) were a theme across the top performers after physical gold hit new all-time highs.1 Bets on a mega 50bps cut from the Fed increased after a slew of negative economic data was released last week. Precious metals have historically rallied when interest rates were cut in the US.
  • Short equity funds (BBOZ, BBUS, BEAR, SNAS) were the worst performers of the week after the US market bounced back from its worst week of the year to notch its strongest gains since 2023.2
  • There were $438.6 million in reported inflows for the week and $140.1 million in outflows, marking a week of net inflows for the Australian ETF industry.

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Forecasts are not guaranteed and undue reliance should not be placed on them. This information is based on views held by Global X as at 17/09/2024. Investing involves risk, including the possible loss of principal. Diversification does not ensure a profit nor guarantee against a loss.

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This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information is not intended to be individual or personalised investment or tax advice and should not be used for trading purposes. Please consult a financial advisor or tax professional for more information regarding your investment and/or tax situation.