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ETF Securities sees surge into physically-backed precious metal ETCs

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ETF Securities says its physically-backed gold exchange-traded commodities saw a 236,220 ounce increase in gold holdings last week, the largest increase since the week ending 30 January

ETF Securities says its physically-backed gold exchange-traded commodities saw a 236,220 ounce increase in gold holdings last week, the largest increase since the week ending 30 January.  

Total gold holdings now stand at 7,322,420 ounces, a new record high and equivalent to USD6.8bn at the current gold price, the largest ETF/ETC gold holdings in Europe and the second largest in the world.

ETFS Physical Platinum added 45,756 ounces (USD62mn) of platinum holdings last week, the largest weekly increase since February 2008.

The platinum holdings of ETFS Physical Platinum have increased 115 per cent since hitting a low on 21 November 2008. Total platinum holdings now stand at 290,095 ounces, equivalent to USD334m.

ETFS Physical Silver saw a 951,049 ounce increase in holdings last week, the largest rise since September 2008 bringing total holdings to USD205m.

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