Commodities & Metals
New ETF for White Metals: Silver, Platinum and Palladium (WITE, GLTR, SGOL, PPLT, PALL, SLV)
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There is becoming an ETF for everything, and now a new combined metals ETF is being launched that will hold hold silver, platinum and palladium in fixed weights. ETF Securities announced today that ETFS Physical White Metals Basket Shares (NYSE: WITE) is set to launch.
This is a basket meant to be geared toward investors who want a single trade to invest in all three precious metals as well as diversify their existing gold holdings. ETFS also noted that this precious metals play is more geared to the economic growth cycle.
This ETF launch sounds a lot like an October release ETF called ETFS Physical Precious Metal Basket Shares (NYSE: GLTR), also by the same ETF outfit, and it has so far been deemed a success as it trades now about 113,000 per day. The “Glitter”ETF includes gold where this new version this morning does not. We would also note that there are individual ETFs for each: ETFS Physical Swiss Gold Shares (NYSE: SGOL), ETFS Physical Platinum Shares (NYSE: PPLT), and ETFS Physical Palladium Shares (NYSE: PALL). There is also the iShares Silver Trust (NYSE: SLV) that can be used for investing in any of these strategies individually.
JON C. OGG
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