Friday, May 4, 2007

Platinum, Palladium Drop as Demand for New Products Misses Some Estimates

(Bloomberg) -- Platinum and palladium fell for the first time in at least three days after initial interest in new securities backed by both metals lagged behind some estimates.

Securities introduced by ETF Securities Ltd. on April 24 have attracted investments equal to 6,051 ounces of platinum and 14,534 ounces of palladium, said Nik Bienkowski, head of listings at ETF Securities in London. Similar securities for gold attracted 325,000 ounces of demand on the first day, in 2003.


Read more at Bloomberg Commodities News

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