• Most Popular
  • Most Shared

ETF Securities Physical Gold ETC holdings rise 2 pct

Tue Jan 6, 2009 4:32am EST

Stocks

   

LONDON, Jan 6 (Reuters) - ETF Securities said the amount of metal it holds to back its Physical Gold exchange-traded commodity (PHAU.L) rose 2 percent in the week to Jan 2.

The ETC held 1.899 million ounces of bullion on Friday, against 1.856 milion ounces on a week before.

The company said its platinum ETC (PHPT.L) holdings dipped 1 percent in the same period to 170,740 ounces, while the holdings of its silver and palladium-backed ETCs slipped 0.5 percent.

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 David Evans)



More from Reuters

Photo

U.S. official admits security failed in air scare

WASHINGTON (Reuters) - A regional wing of al Qaeda claimed responsibility on Monday for a failed Christmas Day attack on a U.S.-bound passenger plane, saying it was to avenge U.S. attacks on the group in Yemen. | Video

» More Top News
Passengers queue to go through security checks at the departure gate at Gatwick Airport, in southern England December 28, 2009. REUTERS/Luke MacGregor

Travel headaches after scare

The U.S. is stepping up airline security measures following the Christmas bomb scare. Here's what you can expect.  Full Article | Video 

U.S.
A man yells at the site of suicide bomb attack on a procession of Shit'ite Muslims commemorating Ashura in Karachi December 28, 2009. Credit: REUTERS/Athar Hussain

"Worse than an infidel"

Dozens killed as suicide bomber attacks Shi'ite Muslim progression in Pakistan despite thousands of security forces on high alert.   Full Article | Video 

World