Platinum ETFs Experience Large Outflows

Platinum ETFs Experience Large Outflows.

World’s largest platinum ETF, South Africa’s NewPlat sheds 134,000 ounces.

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Platinum ETFs experienced their largest monthly outflow ever in October, shedding 160,000 ounces. The largest platinum ETF in the world, South Africa’s NewPlat operated by Absa Capital saw the largest outflow with its holdings falling 134,000 ounces.

Platinum held in ETFs, mutual funds and repositories like Comex have fallen to just over 3.04 million ounces down from a high of 3.4 million ounces in early 2014. Platinum held in ETFs are at 2.232 million ounces with NewPlat holdings at 1.078 million ounces.

Platinum Held in ETFs, Depositories and Mutual Funds

platinum held in ETFS chart

Platinum holdings in ETFs, repositories and mutual funds are at about 3 million ounces.

Platinum Held at the NYMEX Warehouse

Platinum futures contracts are traded on NYMEX which is owned by The CME Group which also operates COMEX where gold and silver futures contracts are traded. Platinum held at the NYMEX warehouse has also fallen from its peak in 2014 of approximately 290,000 ounces to about 156,000 ounces at the end of October 2015.

platinum held at the nymex warehouse

Platinum held at the NYMEX warehouse has falled from its peak in 2014.

Platium under Pressure

Platinum is largely an industrial metal with demand for use in the automobile industry constituting nearly half of over all demand.

platinum demand and use chart

Platinum for use in jewlery and the auto industry constitute the bulk of demand.

Platinum is used in auto catalytic converters, especially in diesel based automobiles, to reduce harmful emissions. The recent Volkswagen emissions scandal created concern that demand for platinum may be impacted negatively if diesel vehicles fall out of favor.

Over the past fifty years platinum, which is more than twenty times as rare as gold, has traded at a premium to gold. Recently, however, gold has traded at a premium to platinum.

Gold Platinum Ratio – Fifty Years

gold to platinum ratio chart

Gold has traded at a premium to platinum since January 2015.

Click here to see the live gold platinum ratio chart as well as one month, one year, five year, ten year, twenty year and fifty year charts.

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Further Reading:

Platinum Supply and Demand

Platinum vs. Gold Price

Silver ETFs

Gold ETFs

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Compare prices and shipping charges on platinum for sale at:

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Charts courtesy of Nick Laird at Sharelynx

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