ETF Securities announced today (10th September) that its palladium exchange-traded commodity (ETC) has reached a new record high, Reuters reports.

The UK-based firm revealed that the amount of metal it holds to back its Physical Palladium product increased by 5.5 per cent to 477,766 ounces on Wednesday.

In addition, the company reported a rise of 0.6 per cent to 8.114 million ounces in its three gold commodities - Gold Bullion Securities, ETFS Physical Gold and a small Australian fund.

According to the news provider, holdings in ETF Securities' platinum exchange-traded fund (known to the market as PHPT.L) decreased by 4,294 oz to 321,362 oz yesterday.

However, its London-listed silver product saw an inflow of nearly 100,000 oz, taking the amount of metal backing it to 20.186 million ounces.

ETCs, which issue securities backed by their corresponding physical stocks, have proved increasingly popular with precious metals investors in recent times.

ETF Securities was the first company to list an ETC in 2003 when it launched Gold Bullion Securities.

Source:

UPDATE 1-ETF Securities' palladium ETC holdings hit record (10/09/09)

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