Investors pulled $5.6 billion from gold exchange-traded products (ETPs) in February after poor performance by the yellow metal, but appetite for riskier, growth-oriented industrial metals ETPs remained intact. In February, the gold price dropped for the fifth month in a row, with the S&P GSCI Gold Index off 5.04 per cent. The world's largest gold-backed ETP had its biggest monthly outflow since inception as investors sought better returns.The exodus from gold pulled down the entire commodities ETP complex, global data from BlackRock showed, as the gold segment accounts for some 70 per cent of total commodity ETP investments.Some $5.1 billion left commodities ETPs as inflows to industrial metals and broad basket commodity ETPs failed to offset the gold meltdown.

Source - http://economictimes.indiatimes.com