IPLT
VelocityShares 2x Inverse Platinum ETNNASDAQ
IPLT is defunct since December 28, 2013. Early Redemption
  • Dec. 27, 2013, 7:46 AM
    • Today marks the day for the early redemption of four VelocityShares commodity-related ETNs:
    • The 2X Long Platinum ETN due Oct. 2031 (LPLT), the 2X Inverse Platinum ETN due Oct. 2031 (IPLT), the 3X Long Brent Crude ETN (UOIL) due February 2032, the 3x Inverse Brent Crude ETN due February 2032 (DOIL).
    | Dec. 27, 2013, 7:46 AM
  • Dec. 4, 2013, 12:55 PM
    | Dec. 4, 2013, 12:55 PM | 30 Comments
  • Dec. 3, 2013, 7:33 AM
    • The "struggle for gold not only rests with the predominant selling interest among investors currently, but with limited positive catalysts looking forward, gold is unlikely to regain its former appeal," writes UBS, slashing its precious metals forecasts for 2014 - gold to $1,200 from $1,325 and silver to $21 from $24.
    • With the downward momentum building, gold could test $1,050 an ounce - a level that might approach a "decent buying level," writes the team, but the path would be "very turbulent."
    • Gold is flat in morning action at $1,223 after yesterday's plunge, while silver has given up a bit more ground, -0.5% to $19.93.
    • PM ETFs: GLD, SLV, IAU, AGQ, PHYS, SIVR, PPLT, PALL, ZSL, USLV, SGOL, UGL, DGP, GLL, DZZ, UGLD, DBS, DGL, DSLV, GLTR, DGZ, PTM, AGOL, DBP, GLDI, DGLD, WITE, SLVO, PGM, TBAR, USV, JJP, UBG, RGRP, LPLT, BLNG, IPLT
    | Dec. 3, 2013, 7:33 AM | 23 Comments
  • May 10, 2013, 11:28 AM

    Anglo American Platinum (AGPPY.PK) appeases labor tensions but disappoints investors by agreeing to cut fewer jobs than proposed and to keep more of its production on line as a result. Amplats now estimates 2013 platinum production at 2.2M-2.4M oz. vs. an earlier forecast of 2.1M-2.3M, feeding concerns that supply could exceed demand this year. Platinum -2.5% to $1,479.10.

    | May 10, 2013, 11:28 AM
  • Mar. 27, 2013, 2:25 PM

    Russia and South Africa, which together hold ~80% of the world’s platinum-group metal reserves, reportedly plan to create an OPEC-type cartel to coordinate exports. Like OPEC, the two countries would want to be able to create a floor under platinum prices, which would help their important domestic mining industries in terms of profitability and allow them to pay poor and increasingly militant miners better wages.

    | Mar. 27, 2013, 2:25 PM | 7 Comments
  • Feb. 19, 2013, 6:06 AM

    Anglo American Platinum (AGPPY.PK) has suspended production at all its South African operations today due to wildcat strikes after at least 13 people were injured in inter-union violence at one of its mines yesterday. The stoppage follows violent industry wide strikes last year, which cost the mining industry 15B rand ($1.68B) of lost revenue, and comes ahead of wage talks. Platinum futures +0.9%.

    | Feb. 19, 2013, 6:06 AM | 2 Comments
  • Feb. 13, 2013, 4:59 PM

    While prices for gold and silver drift lower, platinum's premium to gold surged to a 17-month high on concern supply may fall after Zimbabwe's government seized land from the country’s biggest platinum producer Zimplats, majority owned by Impala Platinum. Commerzbank analysts expect further production outages which could increase the platinum supply deficit on the world market.

    | Feb. 13, 2013, 4:59 PM
  • Jan. 17, 2013, 8:27 AM

    South Africa's mining sector could face more protests if companies cut more workers, union officials say, as Anglo Platinum's planned 14K-employee layoff shows the company isn't "putting the interests of the country at heart" and is an example of South Africa not benefiting from its minerals. Several hundred workers who had refused to work returned to allow unions to meet with the company.

    | Jan. 17, 2013, 8:27 AM
  • Jan. 14, 2013, 8:35 AM

    Anglo American Platinum expects to swing to a loss for 2012 after a strike that cut production and sales, a sign of what's to come for other strike-hit South African miners. Earnings also will be hit by a writedown from the closure of some mines deemed not viable to run. Platinum has been outshining gold of late, in part on strained supply from South Africa.

    | Jan. 14, 2013, 8:35 AM
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