2010-01-17

The bubble metal of 2010...platinum?

Platinum to beat gold, says Goldman Sachs
This could put downward pressure on the gold price but could have the opposite effect on platinum and palladium, it added. "While these new physical-backed ETFs present a downside risk to gold ETF demand and gold prices, they represent an upside risk to platinum prices. We continue to recommend a long position in platinum as a 'gold-plus' trade."
The bank described demand for gold EFTs as "rather muted", adding: "The holdings of gold EFTs have been essentially flat over the past six months at around 47m ounces. Should the investor demand for gold not return to the market this year, upside for gold prices would be further limited."
ETF Securities launched a platinum ETF just in time, symbol PPLT. The also created a palladium ETF, symbol PALL.

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