ETF Securities is pushing for the creation of the first-ever US exchange-traded platinum and palladium funds, Reuters reports today (27th May).

A recent report by Johnson Matthey revealed that platinum demand declined by five per cent to 6.35 million ounces last year, representing the first decline since 1999.

However, the study also showed that platinum investment almost doubled to 425,000 oz, a trend many commentators expect to continue this year as economic conditions begin to recover.

With that in mind, ETF Securities has filed with the US Securities and Exchange Commission in order to establish the US’ first platinum and palladium trusts.

According to the Reuters report, the company’s plans are likely to be met with resistance from industrial users and may also face a number of regulatory challenges.

Full Story:  http://www.platinum.matthey.com/media_room/etf_securities_application_for_us_platinum_and_palladium_funds_faces_stiff_opposition_19192213.html

Gold was flat until just before the New York open on Thursday, popped about $10 from there, but then gave it back before trading rangebound for the rest of the day, finishing at $934.20/oz., up 40 cents. Overnight, gold has fallen off.

Platinum prolonged its recent bust-out to the upside, pushing as high as $1160 early in New York, then declined through the Comex and went flat on the Globex, ending at $1142/oz., up $21. Overnight, platinum is trending lower.

Silver pushed higher from Hong Kong through to the noon hour but eased gently from there, closing at $13.52/oz., up a penny. Overnight, silver is sharply lower. (Click here for charts)

It was another very lackluster day for the precious metals, except for platinum, which is generating a good bit of buying interest and yesterday touched a six-month high.

“Some people may think that perhaps the car industry will start

The Markets await the Obama economic stimulus and bank rescue plans…  AngloPlat reports higher earnings but flags up cost fears… Johnson Matthey (JMAT) sees 2009 platinum demand declining 5 pct…

This from Reuters, London:

Gold fell nearly 2 percent in Europe on Monday as investors took profits after recent gains, amid disappointment the metal had failed to beat resistance near $930 an ounce last week.

Spot gold slipped to $895.65/897.65 an ounce at 1446 GMT, down from $911.70 in New York late on Friday. Earlier it touched a low of $893.15.

U.S. gold futures for April delivery on the COMEX division of the New York Mercantile Exchange fell $16.30 to $897.60 an ounce.

“There has been some profit taking and disappointment we couldn’t break through $930, even with strong demand from ETFs,” said Commerzbank senior trader Michael Kempinski.

Signs of a recovery in

APMEX inventory:

(1 oz) Gold Krugerrand - Random Year Out of Stock (1 oz) Gold Maple Leaf - Random Year Out of Stock (1 oz) Gold American Eagle - Random Year Out of Stock 2008 1 oz Gold Buffalo Coins - Brilliant Uncirculated Out of Stock (1 oz) Gold Buffalo - Random Year Out of Stock (1 oz) .9999+ Fine Gold Bar - Pamp Suisse (In Assay Card) Out of Stock (10 oz) .999+ Fine Gold Bar - Pamp Suisse Out of Stock 1 oz Austrian Philharmonic Gold Coins Out of Stock Switzerland 20 Franc Gold Coins - Brilliant Uncirculated Out of Stock France 20 Franc Rooster Gold Coins - Brilliant Uncirculated Out of Stock Great Britain Gold Sovereigns - Almost Uncirculated or Better! Out of Stock Austria / Hungary 100 Corona Gold Coin - Brilliant Uncirculated Out of Stock Generic Silver .999 Fine - As low as $0.59 per ounce