Earlier this month, London-based ETF Securities (ETFS) filed papers to bring the first bullion-backed platinum and palladium ETFs to the U.S. – a move that may shock many longtime precious metal investors.
(see our April 6th article on this: http://etfdailynews.com/blog/?p=769)
After all, the last time the idea of stateside platinum and palladium ETFs was floated, way back in 2007, it met with so much resistance that ETFS chairman Graham Tuckwell personally quashed the rumors, telling Reuters, “I don’t think there will be a listed platinum or palladium ETF in the United States.”
This time, however, the filing was met with almost complete silence. What changed?
Blame it on the Big Three. The auto industry’s collapse has changed everything, making it possible for ETFS to bring its platinum and palladium funds – already very successful in Europe – to the States.
But as investors grow increasingly hungry for safe havens and cold, hard bullion, could the new funds mean shortages ahead?
Full Story: http://www.hardassetsinvestor.com/features-and-interviews/1/1531-playing-platinum-a-palladium-ahead-of-the-etf-launch.html