Last Updated :
31 March 2009 at 11:30 IST
Record surge in ETFS platinum, gold ETCs
Commodity Online LONDON: There has been a reported surge in inflows into physically-backed precious metals ETCs of ETF Securities. The firm informed that investment in platinum was the largest in over a year while gold holdings have risen to an all-time high.
ETF Securities' physically-backed gold ETCs (PHAU, GBS and GOLD) has seen a 236,220 ounce increase in gold holdings last week, the largest increase since the week ending 30 January.
Total gold holdings now stand at 7,322,420 ounces, a new record high, equivalent to $6.8bn at the current gold price, the largest ETF/ETC gold holdings in Europe and the second largest in the world.
ETFS Physical Platinum (PLAT) adds 45,756 ounces ($62mn) of platinum holdings last week, the largest weekly increases since February 2008. The platinum holdings of ETFS Physical Platinum (PLAT) have increased 115% since hitting a low on 21 November 2008.
Total platinum holdings now stand at 290,095 ounces, equivalent to $334mn. ETFS Physical Silver (PHAG) sees a 951,049 ounce increase in holdings last week, the largest rise since September 2008 bringing total holdings to $205mn.
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