ETF Securities confirmed yesterday (16th February) holdings in its Physical Palladium exchange-traded commodity (ETC) rose by 30 per cent last week, Reuters reports.

The company increased the amount of metal it holds to back the ETC PHPD.L by almost 52,000 oz to 224,628 oz in the week to 13th February.

Commenting on the news, Nicholas Brooks, Head of Research at the firm, explained that the recent upturn in palladium prices has attracted the attentions of investors.

He told the news provider: "Platinum and palladium tend to move together. Platinum prices have been running strongly recently, and palladium has been following.

"A number of investors have been monitoring this and have decided it is a sustainable rise, so they have moved into our ETC."

Meanwhile, the company also confirmed that its Physical Platinum ETC PHPT.L experienced inflows of 16,416 oz last week, making it up to a total of 202,590 oz.

ETF Securities launched the first ever ETC in 2003, along with the World Gold Council.

Source:

UPDATE 1-ETF Securities Palladium ETC holdings rise 30 pct (16/02/09)
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSLG61294520090216