Zurich Cantonal palladium ETF holdings rise 17 pct

LONDON, July 23 (Reuters) - Zurich Cantonal Bank said on Wednesday that the stock of metal it holds to back its palladium exchange-traded fund (ZPAL.S) has grown by 17 percent since June 17 to 418,000 ounces.

The bank's holdings to back its platinum ETF (ZPLA.S) inched up 4 percent to 65,500 ounces in the same period, against 62,300 ounces on June 17.

Palladium has benefitted from fears over supply after an electricity shortage in South Africa, a major producer of the metal used for catalytic converters, and after reports Russian stockpiles of the metal may be near depletion.

(Reporting by Jan Harvey; Editing by Michael Roddy)