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US news.com reports that despite a shaky economy, metals like gold, palladium , platinum and silver have enjoyed a meteoric rise. Up until now, they have only been available for purchase singularly, but with the advent of the GLTR (NYSE GLTR) ETF, investors get access to all four together.
US news.com reports that despite a shaky economy, metals like gold, palladium , platinum and silver have enjoyed a meteoric rise. Up until now, they have only been available for purchase singularly, but with the advent of the GLTR (NYSE GLTR) ETF, investors get access to all four together.
The story quotes as :
A play on the word glitter, GLTR—which began trading Friday—is designed to be a one-size-fits-all approach to investing in metals. “[With this fund] you’ve got that blend of four metals in one part, so you don’t have to make that decision about which one is going to outperform,” says William Rhind, strategic director at ETF Securities. The firm already offers four separate ETFs that each invest in gold, silver, platinum, and palladium, all which track the spot price of each metal and are physically backed by underlying bullion held in underground vaults. The GLTR fund is set up the same way.