HSBC: Platinum, Palladium ETF Holdings Hit Record Highs

April 30, 2014

London (Apr 30)   Investors remain positive on platinum group metals, with holdings in platinum and palladium exchange-traded funds hitting all-time highs as of early this week, says HSBC. The bank cites Bloomberg data showing that holdings in the top seven platinum ETFs were at a record high of 2.66 million ounces as Monday, up from 2.51 million at the start of the year. Holdings in the top eight palladium ETFs hit a record high of 2.58 million ounces, up from 2.16 million at the start of this year. “The gain in palladium is largely attributed to the two newly created (South African) palladium ETFs, which have absorbed a total of 470,000oz this year,” says HSBC. “We remain bullish on the PGMs.”

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