Platinum ETF Proves Popular
May 24th at 1:02pm by Tom Lydon
The platinum backed exchange traded fund (ETF) launched in Europe last month looks to be in high demand. ETF Securities revealed this ETF attracted investment equivalent of 11,942 ounces of platinum in the month since it was launched. An ETF Securities insider says there have been "a lot of interest" in the physically backed precious metal based ETF. The press release states the success of this fund points to speculation that more ETFs could be established, despite concerns from platinum miners that the funds would cause demands of platinum to exceed supply.
