The ETFS Physical Platinum Shares (NYSEArca: PPLT) is up 1.8% year-to-date, platinum prices could see more upside in the near-term due to ongoing labor strife in South Africa, the world’s largest producer of the metal. [Platinum Prices Could Soar]
“Platinum ETPs received US$2.5mn of inflows, as labour unrest in South Africa continues. We are now 23 working days into the strike and producers should only have a few weeks of stocks left. So far 230,000 ounces of production have been taken off the market, equivalent to almost 4% of 2013 global platinum supply. Should the strikes persist for a few more weeks, the price of platinum could react strongly,” according to ETF Securities.
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ETF Trends editorial team contributed to this post.