“Strikes in South Africa entered their 15th week. Although above the ground supplies of platinum have limited price appreciation, potential sanctions on Russia, the world’s largest palladium producer, are increasing supply demand deficit expectations in the already constrained palladium market. Negotiations with the Association of Mineworkers and Construction Union (AMCU) appear to have collapsed and the three main producers, Amplats, Implats and Lonmin Plc Lonmin, have announced that they will consult directly with employees on their revised pay offers,” said ETF Securities.
Last week, SLV gained almost $61 million in new assets while $383.3 million was pulled from GLD.
iShares Silver Trust
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of GLD and SLV.