ETF Securities ETFS Physical Gold holdings jump 7 pct
LONDON |
LONDON Aug 26 (Reuters) - ETF Securities said on Wednesday the amount of metal it holds to back its ETFS Physical Gold exchange-traded commodity (PHAU.L) jumped 7 percent on Tuesday to above 3 million ounces.
The ETC now holds 3.190 million ounces of bullion, against 2.978 million ounces on Monday.
ETCs issue securities backed by physical stocks of a given commodity. Buying of precious metals to back ETCs and similar products has formed a major plank of demand in recent years.
(Reporting by Jan Harvey; Editing by Peter Blackburn)
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