Spurred on by the recent success of newly launched exchange-traded funds tracking gold prices, the mutual fund industry is now pondering other commodities-based index investments offering diversified exposure to skyrocketing oil markets, CBSMarketWatch reports.

State Street Global Advisors’ newly launched StreetTracks Gold Trust provoked money managers’ interests in commodities-based ETFs by attracting $1.3 billion within its first three trading days.

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