For the first time, U.S. investors will have access to a physically-backed precious metals exchange traded fund (ETF).
The ETFS Physical Precious Metals Basket Shares (NYSEArca: GLTR), which will start trading on the New York Stock Exchange today. The ETF, which is already trading in Australia, Europe and Japan, will hold gold, silver, platinum and palladium. At the launch, about half of the fund will be invested in gold, says Olivier Ludwig for IndexUniverse.
Carolyn Cui for The Wall Street Journal reports that this will eliminate the need for investors to decide which metal to get exposure to. In a time when all four metals are increasing sharply in value, it can be a tough call. [4 ETFs To Play Silver’s Shine.]
This year, gold is up 23% and platinum up 15%, eclipsed by the gains in silver and palladium, up 42% and 45%, respectively. Much of the price gains are from safe-haven seeking, but some of these metals are used heavily in industry. [Get Ready For An Onslaught Of Precious Metals ETFs.]
Tisha Guerrero contributed to this article.
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