By: Reuters
11th January 2010
Platinum takes centre-stage after US ETF launch
LONDON - Platinum group metals are positioned for a stellar year, with new investment vehicles in the United States seen as a precursor to a wave of investment buying in anticipation of a recovery in industrial demand.
The launch of platinum and palladium-backed exchange-traded funds on the New York market has given US investors their first opportunity to invest in the metals via an ETF.
"We think platinum will be the best performer this year," said Daniel Smith, an analyst at Standard Chartered in London.
"If you look at where we are in the economic cycle and where (mining) costs are as well in South Africa, platinum is quite a bullish story overall," he said. "The US ETFs are just adding fuel to the fire."
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