Market Moves: Week Ending 25 October 2024

  • Precious metals (ETPMAG, ETPMPD, ETPMPM) were a theme across the top performers this week due to a slew of tailwinds. Palladium rallied 11% after the US requested allies to sanction precious metals exports from Russia.1 Silver was also a strong performer as investors executed a catch-up trade after gold hit new all-time highs.
  • Uranium ETFs (ATOM, URNM) were the poorest performers of the week after Paladin Energy, the largest uranium miner on the ASX, crashed more than 20% on weaker than expected cashflows.2 The firm’s proposed acquisition of Fission Energy also came under question after Canadian regulators launched a national security review of the deal.3
  • There were $549.4 million in reported inflows for the week and $109.5 million in outflows, marking a week of net inflows for the Australian ETF industry.

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Looking for more ETF Express content? Check out this week’s Thematic Spotlight and Commodity Calls.

 

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 29/10/2024. 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.