ETFS Rolls Out Physical Precious Metals Basket ETF (GLTR)

ETF Securities, the European ETF giant that has now accumulated more than $2 billion in U.S. ETF assets, announced the latest addition to its product line on Friday. The ETFS Physical Precious Metal Basket Shares (GLTR) will be the first U.S.-based, physically backed precious metal basket ETP. GLTR (pronounced “glitter”) will hold gold, silver, platinum and palladium in fixed weights: 0.03 ounces of gold, 1.1 ounces of silver, 0.004 ounces of platinum, and 0.006 ounces of palladium. At current market prices, that means that the exposure will be tilted most heavily towards gold and silver,with smaller allocations to the other two precious metals [see Guide To Platinum ETFs]. Currently two ETPs, including the PowerShares DB Precious Metals Fund (DBP) and iPath Precious Metals ETN (JJP), offer exposure to a precious metals basket consisting of gold and silver. There are multiple options for both physically-backed and futures-based exposure to gold, silver, and [...] Click here to read the original article on ETFdb.com. Related Stories: ETF Securities Planning Precious Metal Basket ETF Playing Precious Metals Through Equity ETFs ETF Securities To Launch Precious Metals ETFs In Japan