What’s going on here?
Precious metal ETFs are a mixed bag right now, with some like gold and silver fluctuating, while others focus on stability through physical reserves.
What does this mean?
The SPDR Gold Trust recently reported a slight reduction in holdings, down 0.35% to 28,570,301.3 ounces, with a year-to-date loss of over 932,738 ounces. In contrast, the iShares Silver Trust saw a 0.11% drop but maintains a robust YTD gain of 13 million ounces. Meanwhile, the COMEX Gold Trust increased by 0.20%, despite having lost over 2 million ounces YTD. As risks fluctuate, ETFs are banking more on physical commodities for security. For instance, the ZKB Physical and ABSA – NewPalladium funds offer full metal backing, minimizing counterparty risk with physical delivery options. This strategy is evident in Standard Bank’s AfricaPalladium ETF, a key player in South Africa since 2014.
Why…
