"In terms of our holdings, we are very much seeing more of a holding pattern [with <b>ETFS Securities Physical Gold</b> <span class=" TICKERFLAT">(<a href="/quote/SGOL.html">SGOL</a><a class=" arrow" href="/quote/SGOL.html"><span class=" tickerChange" id="story_SGOL"></span></a>)</span>]," says Daniel Wills, senior analyst at ETF Securities. The most popular gold ETF,
SPDR Gold Shares
, shed only 2 tons in the last week as buying stopped and selling slowed.
"The other risk assets are very much still in play," says Wills who has seen strong inflows into their
ETFS Physical Platinum
ETFS Physical Palladium
. Platinum added 14,899 ounces in February while palladium added almost 20,000.
Platinum lost $2.50 to $1,859.40 an ounce while palladium ended down $12 to $826.45 an ounce. These two metals are so "geared to the auto sector cycle," explains Wills "and this has been a particularly strong point in the emerging market growth story."
shed 18 cents to $30.09. The metal has been moving more with gold this week rather than industrial metals, despite the fact that it is used in construction and manufacturing. The metal settled over the $30 level for three consecutive trading days. Many experts are looking a $30.50 as the target, the one silver must take out before confirming an up move.
Gold mining stocks
, a risky but profitable way to
, were losing ground.
was down 1.11% at $42.61 while
(HMY - Get Report)
was losing 1.92% at $10.75. Goldcorp recently announced that its proven and probable gold reserves rose 23% to 60.1 million ounces in 2010.
Other gold stocks
(GFI - Get Report)
(NGD - Get Report)
were trading at $15.92 and $9.25, respectively.
Written byAlix Steel in
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