NEW YORK (Commodity Online): The recently launched platinum and palladium exchange traded funds (ETFs) in the US have witnessed a huge buying and within a week’s time the ETFs have a holding of over 200,000 ounces.
This week ETFS physical platinum shares PPLT was holding 89,948 ounces of platinum, while the ETFS physical palladium shares PALL had 99,977 ounces of palladium,
according to ETF Securities’ website.
The new exchange products are expected to give US investors easier access to the industrial metals, which have already rallied on hopes of more fund-based stockpiling.
Goldman Sachs had earlier reported that gold could face competition for investors’ money following the launch of new exchange-traded funds (EFTs) that make it easy to gain exposure to platinum and palladium.
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