Platinum Prices, ETF Rise Most in 13 Months

Aug. 09, 2013 10:53AM PST

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.’

Click here to read the full ETF Trends report.