This could put downward pressure on the gold price but could have the opposite effect on platinum and palladium, it added. "While these new physical-backed ETFs present a downside risk to gold ETF demand and gold prices, they represent an upside risk to platinum prices. We continue to recommend a long position in platinum as a 'gold-plus' trade."ETF Securities launched a platinum ETF just in time, symbol PPLT. The also created a palladium ETF, symbol PALL.
The bank described demand for gold EFTs as "rather muted", adding: "The holdings of gold EFTs have been essentially flat over the past six months at around 47m ounces. Should the investor demand for gold not return to the market this year, upside for gold prices would be further limited."
Casino Mooted for Country Garden Malaysia Project and More Asia Real Estate
Headlines
-
Malaysia’s prime minister is hoping to persuade some patriotic tycoons to
open a casino in Johor to revive an ill-fated Country Garden project, with
that...
No comments:
Post a Comment