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ETF Securities' palladium ETC holdings hit record

Source: Reuters - Thu 10th Sep 2009

ETF Securities said on Thursday the amount of metal it holds to back its London-based physical palladium exchange-traded commodity rose 5.5 percent on September 9 to a record 477,766.

ETCs issue securities backed by physical stocks of a given commodity. Buying of precious metals to back ETCs and similar products has formed a major plank of demand in recent years.