Closed in the UK up 7.14% at 68p ($1.63) - plat stocks up due to .....
(OZ close Friday was $1.59, so expect some more movement)
St. LOUIS (ResourceInvestor.com) -- Platinum prices jumped again after the release of information that London-based ETF Securities, the firm that brought the world its first gold ETF Gold Bullion [LSE:GBS], would be opening the first platinum exchange-traded commodity (ETC) on the London Stock Exchange.
The ETFS Metals Securities Basket will have separate funds set up for platinum, palladium, gold, silver and a basket fund that contains quantities of each precious metal. The ETCs, like exchange-traded funds (ETF), are backed by a metal security in a trust. Investors can sell their units at any time or request payment in the form of the physical precious metal. http://www.resourceinvestor.com/pebble.asp?relid=31044
