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phdinsuntanning » Comments » AUREF.PK

  • No Renewed Bull Phase for Metals Miners Just Yet [View article]
    ETF Securities said on Monday the amount of platinum it holds to back its Physical Platinum PHPT.L exchange-traded commodity fell 30 percent in the week to Aug 17. The ETC is now backed by 218,165 ounces of metal, its lowest point since February 5 and some 46 percent below the all-time high of 407,000 ounces it hit in early July.
    In consequense someone is buying the physical thing and those poor
    PHPT.L holders are getting a useless piece of paper. No wonder all these ETFs are dying, the metal is going somewhere else...
    Aug 19 15:39 pm |Rating: 0 0 |Link to Comment
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