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Gold and silver exchange traded fund (ETF) investments are yesterday’s news when compared to platinum and palladium ETFs. According to a new report from Barclays Capital, holdings in exchange-traded products backed by platinum group metals have hit fresh peaks, reports Commodity Online.

Two of the top-performing ETFs last week were ETFS Physical Platinum (NYSEARCA:PPLT), which gained 4.6%, and ETFS Physical Palladium (NYSEARCA:PALL), which had an even better 6% gain.

While gold and silver struggle to hold onto record highs, platinum and palladium have become the metals of the moment.

Factors pushing the demand are increased auto sales in China and a growing trend toward platinum jewelry, which is more durable than gold jewelry. Slow mine supply growth and uncertainty in the global economy are also lending support to prices and investor interest.

Sam Coventry for Economy News reports that palladium was the strongest performer at year end, almost doubling over the year from just above $400/oz at the start of 2010, to finish the year testing the $800/oz mark.

Can the uptrend continue in 2011? For now, the answer may well be yes (but have that exit strategy if platinum starts acting like gold has been).

Disclosure: No positions

Source: Gold Who? Platinum and Palladium ETFs Shine