COMMODITIES STILL NOT FOR ME
We’ve seen the t wo platinum exchange-traded funds (ETFs) from Absa and Standard Bank, as well as the Standard Bank palladium ETF, all issuing new units at a rapid rate over the past few weeks. In other words, people are buying as the commodity price is falling. I have exited my platinum ETF and can’t see the attraction here, although the rand is saving things to a degree – the currency’s weakness is helping to hold up the ETFs while the underlying metal price is falling. I still believe things will remain very tough in this space and can’t see any serious trigger that would push the metal prices higher any time soon.