LONDON, June 6 (Reuters) - Holdings of silver in exchange-traded funds witnessed their largest monthly outflow this year in May, while the price of silver fell by more than 25 percent in its biggest monthly fall in almost three years.
The silver products listed below saw outflows of over 46 million ounces in May, worth around $1.720 billion at today’s prices, bringing total holdings of the metal to their lowest level this year.
Gold products saw outflows of 613,610.60 ounces last month, worth $10.31 billion at today’s prices. Most of the decline took place in the first half of the month, as the gold price fell in line with a sharp sell-off across the commodies complex.
Exchange-traded funds, the most widely recognised type of ETP, back each security issued with physical stocks of a given commodity, creating a product they say is free from counterparty risk.
Following is a list of the main exchange-traded products backed with precious metals, and their holdings. NAME COMMODITY HOLDINGS DATE % CHG ORIGIN GOLD (OZ) (M/M) SPDR Gold Trust (GLD) Gold 38,926,644 31/05/2011 -1.54 U.S. ETF Securities gold funds (excluding U.S.) Gold 8,352,434 31/05/2011 -1.47 UK ZKB Physical Gold (ZGLD.S) Gold 6,286,363 31/05/2011 0.05 Swiss COMEX Gold Trust (IAU) Gold 4,424,241 31/05/2011 2.54 U.S. Julius Baer Physical Gold Fund** Gold 3,006,003 31/05/2011 1.68 Swiss NewGold ETF (GLDJ.J) Gold 1,535,330 31/05/2011 -3.47 S.Af Sprott Physical Gold Trust PHYu.TO Gold 1,037,605 31/05/2011 0.01 Canada ETFS Physical Swiss Gold Shares (SGOL.P) Gold 899,200 31/05/2011 0.00 TOTAL 64,467,820 SILVER iShares Silver Trust (SLV) Silver 319,621,250.9 31/05/2011 -9.80 U.S. ZKB Physical Silver (ZSIL.S) Silver 67,673,305.7 31/05/2011 -4.90 Swiss ETF Securities silver funds (ex-US) Silver 26,707,473.4 31/05/2011 -13.00 UK Sprott Physical Silver Trust PHSu.TO Silver 22,298,540.0 31/05/2011 0.0 Canada ETFS Physical Silver Shares (SIVR.P) Silver 17,804,969.9 31/05/2011 -12.00 U.S. Julius Baer Physical Silver Fund Silver 11,803,755.8 31/05/2011 -7.30 Swiss TOTAL 465,909,295.7 PLATINUM ETF Securities Platinum funds (ex-U.S.) Platinum 454,846.20 31/05/2011 -6.63 UK ETFS Physical Platinum Shares (PPLT.P) Platinum 431,557.00 31/05/2011 -2.27 U.S. ZKB Physical Platinum (ZPLA.S) Platinum 364,004.30 31/05/2011 -0.90 Swiss TOTAL 1,250,407.50 PALLADIUM ETF Securities Palladium funds (ex-U.S.) Palladium 583,278.60 31/05/2011 -8.27 UK ETFS Physical Palladium Shares (PALL.P) Palladium 1,011,928.20 31/05/2011 -3.36 U.S. ZKB Physical Platinum (ZPAL.S) Palladium 432,769.10 31/05/2011 -2.18 Swiss TOTAL 2,027,975.90
The figures above are those reported to Reuters by the organisations involved by telephone or email on the date shown, or those that are publicly available on their websites.
* ZKB physical gold, silver, platinum and palladium funds are fully backed by physical precious metal and investors are entitled to physical delivery of them.
** Shareholders in the Julius Baer Gold fund can elect to hold “A class” shares, which are fully backed by physical gold. Investors in that class are entitled to physical delivery of the precious metal. Investors may also elect to hold “AX” class shares, which are fully backed by physical gold. Investors in that class are not entitled to physical delivery of the precious metal.
*** Month-on-month changes are calculated from the last working day of one month to the last working day of the next. This may differ from the last actual day of the month. (Compiled by Amanda Cooper; editing by James Jukwey)