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Platinum EFT demand continues to thrive

Posted on 04 October 2013

Demand for platinum-backed debentures, a form of exchange traded products (ETNs), has been unstinting since they were first launched on the JSE in April with product originator, Absa Capital, announcing today the purchase of just under 8,000 more ounces.
Some 800,000 NewGold Platinum Debentures were issued, equal to 7,985 ounces of platinum at a price of R140.60 per additional debenture, said Absa Capital. That takes a total issued since April26 when they were first launched to 68 million debentures referencing some 678,798 ounces of platinum, equal to 16.5% of South African platinum production in 2012 of 4.1 million ounces………………………………………..Full Article: Source


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