US Platinum ETF & Palladium ETF Holdings Reach 170,000 Ounces

platinum3U.S. platinum and palladium exchange-traded funds launched last Friday were met with buying interest, with about 170,000 ounces of metals added in the first two trading sessions.

As of Monday, ETFS Physical Platinum Shares (PPLT) have bought 80,000 ounces of platinum, while the ETFS Physical Palladium Shares (PALL) held 90,000 ounces of palladium, a ETF Securities spokeswoman said.

The new exchange products are expected to give U.S. investors easier access to the industrial metals, which have already rallied on hopes of more fund-based stockpiling.

Since Friday, both metals had rallied before giving back most of their gains on Tuesday due to gold’s weakness. Platinum XPT= was last at $1,564 an ounce, while palladium XPD= at $419.50.

PGM exchange-traded products currently listed in London and Zurich have attracted a significant amount of the metals. ETF Securities’ platinum (PHPT.L) and palladium (PHPD.L) funds based in London, launched in 2007, currently hold more than a million ounces on a combined basis. The Zurich Cantonal Bank also holds nearly 800,000 ounces in combined metals through its platinum (ZPLA.S) and palladium (ZPAL.S) ETFs.

Source: REUTERS

ETFS Physical Platinum Shares (PPLT) To Begin Trading This Friday January 8th

The Securities and Exchange Commision approved a rule change in late December that allowing ETF Securities to proceed with the launch of the ETFS Physical Platinum Shares ETF (PPLT). The investment objective of the Trust is for the Shares to reflect the performance of the price of physical platinum, less the Trust’s expenses. The Shares are intended to constitute a simple and cost-effective means of making an investment similar to an investment in platinum. An investment in physical platinum requires expensive and sometimes complicated arrangements in connection with the assay, transportation, warehousing and insurance of the metal. Although the Shares will not be the exact equivalent of an investment in platinum, they provide investors with an alternative that allows a level of participation in the platinum market through the securities market.

ETFS Physical Palladium Shares (PALL) To Begin Trading Tomorrow January 8th

The Securities and Exchange Commission approved a rule change in late December that allowing ETF Securities to proceed with the launch of the ETFS Physical Palladium Shares ETF (PALL). The investment objective of the Trust is for the Shares to reflect the performance of the price of physical palladium, less the Trust’s expenses. The Shares are intended to constitute a simple and cost-effective means of making an investment similar to an investment in palladium. An investment in physical palladium requires expensive and sometimes complicated arrangements in connection with the assay, transportation, warehousing and insurance of the metal. Although the Shares will not be the exact equivalent of an investment in palladium, they provide investors with an alternative that allows a level of participation in the palladium market through the securities market.

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