ETF Securities application for US platinum and palladium funds faces stiff opposition

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May 29, 2009 8:54am ETF BASIC NEWS

platinum11ETF Securities is pushing for the creation of the first-ever US exchange-traded platinum and palladium funds, Reuters reports today (27th May).

A recent report by Johnson Matthey revealed that platinum demand declined by five per cent to 6.35 million ounces last year, representing the first decline since 1999.


However, the study also showed that platinum investment almost doubled to 425,000 oz, a trend many commentators expect to continue this year as economic conditions begin to recover.

With that in mind, ETF Securities has filed with the US Securities and Exchange Commission in order to establish the US’ first platinum and palladium trusts.

According to the Reuters report, the company’s plans are likely to be met with resistance from industrial users and may also face a number of regulatory challenges.

Full Story:  http://www.platinum.matthey.com/media_room/etf_securities_application_for_us_platinum_and_palladium_funds_faces_stiff_opposition_19192213.html


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