Precious Metals   Materials  

Commerzbank: ETF holdings of gold rise but fall for platinum

Exchange-traded-fund holdings of platinum have fallen sharply this month, while holdings of gold keep rising, Commerzbank said. After big inflows last week, holdings in gold ETFs tracked by Bloomberg increased by another 16 metric tons Monday, putting them above 90 million ounces or over 2,800 tons for the first time, the bank pointed out.

The orgy of money-printing by central banks and the massive increase in national-debt levels point to continuing robust demand for gold as a safe haven,” said Commerzbank analyst Carsten Fritsch. Meanwhile, platinum ETFs tracked by Bloomberg posted a “massive” outflow of nearly 150,000 ounces Monday, Fritsch said.

“It is possible that customers received the material they needed elsewhere, in other words,” he continued. “That said, platinum ETFs had already chalked up sizable outflows in the previous days and weeks. Outflows since the beginning of the month, meanwhile, total a good 330,000 ounces, putting platinum ETF holdings almost 190,000 ounces lower than they were at the start of the year.”

The analyst also noted that platinum prices are facing a 25% quarterly loss, the biggest since the third quarter of 2008.

News No: 8995
Date: 2020/03/31 - 20:24
News Source:

ETF  platinum  gold  bank  material 


Leave a Comment:


Iran, S. Korea discuss details about transferring frozen funds

The Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati met with the South Korean Ambassador to Tehran Ryu Jeong-Hyun on Monday to discuss the details regarding the transfer of Iranian frozen assets in the Asian country.

ICCIMA to hold Iran-Oman trade opportunities webinar on Tuesday

The international department of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) will hold a webinar on investigating the opportunities and potentials for trade between Iran and Oman on Tuesday.

Iran sends second cargo of refinery materials to Venezuela

Iran has sent a second cargo of refinery materials to Venezuela to help the country resume operation at the 955,000 barrel-per-day (bpd) Paraguana Refining Complex (CRP) in western Venezuela, Reuters reported, quoting people familiar with the matter.

Platinum, palladium and rhodium in short supply – Johnson Matthey

Platinum, palladium and rhodium used by the auto industry to filter emissions from engine exhausts were all in short supply last year, data from specialist materials firm Johnson Matthey showed on Wednesday, as prices for the metals soared.

Silver price will outshine gold as demand hits 8-year high in 2021 – Silver Institute

Global demand for silver will rise to 1.025 billion ounces in 2021, its highest in eight years, as investors and industry ramp up purchases, the Silver Institute said on Wednesday, predicting that prices would rise.

Kinross reports record free cash flow of $1bn for 2020

Toronto-based gold major Kinross Gold (TSX: K; NYSE: KGC) has released its fourth-quarter and year-end 2020 financial results. Production of 2.4 million gold-equivalent oz. for the year (624,032 oz.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners