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ETF Trends reported that platinum prices, as well as the ETFS Physical Platinum Shares (ARCA:PPLT), gained the most in 13 months due to improved demand caused by better conditions in Europe and China.
ETF Trends reported that platinum prices, as well as the ETFS Physical Platinum Shares (ARCA:PPLT), gained the most in 13 months due to improved demand caused by better conditions in Europe and China.
As quoted in the market news:
The ETFS Physical Platinum Shares (NYSEArca: PPLT) jumped 3.7% Thursday. Physical holdings in platinum-related ETFs hit a record 68.84 metric tons on Aug 6, with assets rising 50% so far this year. PPLT was up 1% on Friday morning.
‘There are signs of improving demand and that coupled with supply concerns makes platinum very attractive,’ Michael Gayed, the chief investment strategist at Pension Partners LLC, said in a Bloomberg article. ‘We are seeing the bullish sentiment return.’