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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (42013)	8/24/2009 10:17:01 PM
From: LoneClone	Read Replies (1) of 194260

Holdings in palladium ETC at new record The ETF Securities palladium holding reached a new record, but its silver one fell back and its gold offerings were little changed Posted: Monday , 24 Aug 2009 LONDON (Reuters) - mineweb.com The amount of metal ETF Securities holds to back its palladium exchange-traded commodity was at a record high on August 21, the company said in a daily report on Monday. Its ETFS Physical Palladium product (PHPD.L: Quote) now holds 376,883 ounces of the metal, a level first hit on August 20 after rising more than 100 ounces from the previous day. The company said its total London silver holdings fell by 163,568 ounces or 0.8 percent on August 21, taking them to 19.530 million ounces from 19.694 million. Holdings in the three gold-backed products it operates -- Gold Bullion Securities (GBSx.L), ETFS Physical Gold (PHAU.L) and a small Australian fund -- were little changed. The company issues securities backed by physical stocks of commodities such as precious metals, giving investors exposure to movements in the asset price without having to buy and store the commodity themselves. (Reporting by Kylie MacLellan, Editing by Peter Blackburn)

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