Last Updated : 19 October 2012 at 12:45 IST
Supply shock boosts Platinum ETPs: ETF Securities
Source :Commodity Online/ETFS
Labour strikes in South Africa, which produces 80% of the world’s platinum supply, reduced platinum supply causing a surge in the platinum price and investor demand during the quarter.
By Col. Ajay
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LONDON (Commodity Online): Platinum ETPs also saw strong demand in Q3 2012, with new inflows of $229mn, bringing total platinum ETP holdings to $2.9bn.
Labour strikes in South Africa, which produces 80% of the world’s platinum supply, reduced platinum supply causing a surge in the platinum price and investor demand during the quarter, according to a quarterly report from ETF Securities Ltd.
Some of the flows likely reflect tactical investors taking advantage of the upward price momentum, though some investors have been using long platinum ETPs as a way to hedge their exposure to South African mining company equities.
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