UPDATE 1-ETF Securities Gold ETC holdings slip 7 pct

LONDON, Oct 27 (Reuters) - ETF Securities said on Monday the amount of gold it holds to back its Physical Gold exchange-traded commodity (PHAU.L) fell more than 7 percent in the week to Oct. 26.

The ETC now holds 1.453 million ounces of gold, down from 1.570 million ounces on Oct. 19, it said. Spot gold XAU= prices have fallen nearly 8 percent in the last week.

The company said the amount of metal it holds to back its Physical Platinum ETC (PHPT.L) also slipped a touch in the same week, to 174,101 ounces from 180,596 ounces.

Holdings of its Physical Silver (PHAG.L) and Physical Palladium (PHPD.L) ETCs edged up, however, by 3 percent to a record 13.00 million ounces and by 1 percent to 211,239 ounces respectively.

Demand for precious metals to back exchange-traded funds such as the ETCs -- which issue securities backed by physical stocks of a commodity -- has been a major price driver in recent years.

Analysts fear liquidation of ETF holdings could release substantial amounts of metal back onto the market, pushing prices still lower after recent falls.

(Reporting by Jan Harvey; editing by David Evans)