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Absa Capital Anticipates Reduced Popularity for Palladium ETP
Oct. 01, 2013 10:28AM PST
Precious MetalsMineweb reported that according to Absa Capital, the palladium exchange-traded product (ETP) it plans to launch this year may not attract as much demand as its platinum fund. The reason for its thinking is that palladium is less linked to South Africa than platinum.
Mineweb reported that according to Absa Capital, the palladium exchange-traded product (ETP) it plans to launch this year may not attract as much demand as its platinum fund. The reason for its thinking is that palladium is less linked to South Africa than platinum.
As quoted in the market news:
The company is in the process of finalizing the palladium ETP and hopes to list it in South Africa this year, Vladimir Nedeljkovic, head of investments at Absa’s corporate and investment banking division, said in an interview at a London Bullion Market Association conference in Rome. The Johannesburg- based lender, a unit of Barclays Plc, holds about 680,000 ounces in its NewPlat platinum product, he said.
‘Platinum is quite linked to the South African story,’ Nedeljkovic said. ‘Palladium is slightly less so. We don’t expect palladium to be as big as platinum.’