ETFs Go Platinum
April 29th at 1:06am by Tom Lydon
A platinum-back exchange traded fund (ETF) could soon be launched by a large U.S. bank with the potential to be quite larger than the two European products. Allan Seccombe for Miningmx.com writes the main concern is if a big U.S. fund goes for it, and the liquidity needed to support the ETF is not there, then $1,500 is around the corner.
This week on the London stock exchange commodity tools were launched to give access to palladium, platinum, gold and silver and a precious metals basket. The response was slow. Last year, when a platinum fund was speculated, the price rose to $1,400/oz. on the rumors. The price could rise to $1,450 this year, driven by the price of gold.
