ETF Sec London palladium holdings hit record

LONDON, June 19 (Reuters) - ETF Securities said on Friday the amount of metal it holds to back its ETFS Physical Palladium exchange-traded commodity (PHPD.L) rose 3,000 ounces or 1 percent to a fresh record on June 18.

The ETC now holds 315,572 ounces of palladium, against 312,542 ounces on Wednesday. Its holdings are up 10,000 ounces or 3.3 percent week-on-week.

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 Keiron Henderson)