Chart Of The Week: Platinum Much More Bullish Than Gold As ETF Buying Surges

Posted by Sumit Roy - Hard Assets Investor

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Platinum has been dragged down by gold this year, but the fundamentals of the market are bullish.

While holdings of gold in exchange-traded funds have plummeted this year, contributing to the yellow metal’s 17 percent price decline, we’ve seen the opposite when it comes to platinum. Holdings of platinum in various ETFs have surged 523,000 ounces, or 36 percent, since the start of the year.

Platinum ETF Holdings

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