Palladium is currently trading around $769 per ounce, rising about 7% so far this year. The U.S.-listed physically backed ETFS Physical Palladium Shares (NYSEArca: PALL) has gained 6.9% year-to-date.
Prices on palladium bullion have been strengthening on mining disruptions and strikes in South African mines. Additionally, possible sanctions against Russia, the world’s largest producer of palladium, has also helped support palladium. [Palladium ETF Finds Favorable Catalysts]
Absa Capital is also the sponsor of the Johannesburg-listed NewPlat ETF (NGPLTJ.J), the world’s biggest platinum ETF. [Platinum ETF Physical Holdings at Record High on S. Africa Strikes]
On Wednesday, Standard Bank announced it will be listing first South-Africa-listed palladium ETF Monday.
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Max Chen contributed to this article.