Posted 10/25/2010 06:27 PM ET
The first ETF to melt gold, silver, platinum and palladium together flew off the shelves upon its launch on the New York Stock Exchange Friday. ETFS Physical Precious Metals Basket Shares (GLTR) traded about 124,000 shares, valued at $9.3 million, on its first day.
Each share represents the spot price of 0.03 ounce of gold, 1.1 ounce of silver, 0.004 ounce of platinum, and 0.006 ounce of palladium. Fund provider ETF Securities already provides an ETF tracking each of these metals individually.
It decided how much of each metal to put in the fund based on liquidity, supply and industrial demand. Read original article