NKP 0.00% 9.9¢ nkwe platinum limited

Is this move of collecting physical metal big enough for...

  1. 4,293 Posts.
    Is this move of collecting physical metal big enough for Platinum prices to be affected by this type of fund investment...It appears to be popular according to the article below..
    http://www.moneyweb.co.za/moneyweb-investment-insights/south-african-platinum-fund-tempts-mine-investors

    26 July 2013 00:18
    South African platinum fund tempts mine investors

    Investors favouring fund over squeezed mining stocks.

    "South Africa's platinum sector, already under pressure from rising costs, labour unrest and falling metal prices, is now facing a rival for investment flows -- a major new physical platinum fund with unprecedented levels of demand.

    The New Gold Platinum exchange-traded fund (NewPlat) has pulled in more than half a million ounces of metal since its launch three months ago, worth 7.6 billion rand ($780 million) at today's prices.

    The fund's holdings currently total more than 543,000 ounces, a level it took the world's largest platinum-backed ETF, New York-based ETFS Physical Platinum -- which holds 611,847 ounces of metal -- more than two years to achieve." continues..........

 
watchlist Created with Sketch. Add NKP (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.