July 30, 2007 at 1:06 am by Tom Lydon
Earlier this year platinum exchange traded funds (ETFs) launched in Europe, but they have yet to attract huge investments. Since their launch three months ago, the ETFs have accumulated 1.3% of annual world mine output, Reuters reports. This compares to iShares Silver Trust (SLV), which held 14% of annual silver output in its first quarter. streetTRACKS Gold Shares (GLD) held 6% after its first three months.
There were rumors in the past that the United States will launch a platinum ETF, but as of now there is no product lined up. Analysts say the U.S. market has a bigger base of investors than Europe, so if there were an U.S. launch, then perhaps things would change in the platinum world.
Tags: GLD, Metals, Platinum, Silver
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