Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:New Precious Metals ETF's Luster Catches the WSJ's Eye  Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, October 21, 2010

New Precious Metals ETF's Luster Catches the WSJ's Eye

News summary by MFWire's editors

ETF fundsters who want all of their precious metals in one basket will finally have their wish come true tomorrow. The Wall Street Journal today reports on a new offering, the ETFS Physical Precious Metals Basket Shares, which will start trading on the New York Stock Exchange on Friday. The ETF is reportedly holding a blend of gold, silver, platinum and palladium and will be the first precious-metal basket to be launched in the U.S., taking advantage of the commodities' spike this year (gold is up 23 percent, platinum 15 percent, silver 42 percent and palladium 45 percent).

In an interview, William Rhind, strategic director of U.S. business development at ETF Securities Ltd. (the new fund's manager), touts the new offering as a "one-size-fits-all solution".

Each share of the new ETF will reportedly be backed by 0.03 troy ounce of gold, 1.1 ounces of silver, 0.004 ounce of platinum and 0.006 ounce of palladium. The new fund will store its metals in vaults managed by J.P. Morgan Chase & Co. in London and Zurich. 

Edited by: Hung Tran


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use