A NEW TACK ON PLATINUM INVESTING
With platinum mines sti l l i n t rouble, investors have been f locking to the newly l isted platinum ETF from ABSA, NGPLT, which has a market cap approaching R5bn. According to ETFSA, the total Exchange-Traded Products industry had a market cap of about R49bn at end-March meaning that in the month that NGPLT has been listed it is already 10% of the sectors market cap, and we wonder when (or if ) it’ll catch up to the largest ETF in South Africa – NewGold with a market cap of almost R20bn. In part, this race will be driven by the price of gold and platinum relative to each other – but also demand, and thus far the NGPLT demand has been huge.
New Gold Platinum ETF