Investments in precious metal ETFs were mixed last week. While Fed's announcement of $600B purchases of US Treasury Securities triggered a new round of USD selloff and sent precious metals higher, liquidations were seen in some investments instruments as recent rallies have pushed prices to elevated levels.

Gold: Out of the 10 ETFs under our coverage, 4 gained and 3 dropped during the week. SPDR Gold Trust, the biggest gold ETF, lost -42 .91K oz, or -0.1%, to 41.53K oz. other ETFs recording redemptions included Gold Bullion Securities and New Gold Fund. Among the gainers, ETFs (London) gained +41.14K oz, or +0.96%, to 4.34M oz and Julius Baer Physical Gold Fund added +36.5M oz, or +1.36%, to 2.71M oz. ZKB Gold ETF and iShares Comex Gold Trust saw modest increases of +14.99K oz and +7.13K oz, respectively. On net, gold holdings slipped -6.95K oz, or -0.01%m to 66.08M oz.

Silver: Silver holdings picked up again with iShares Silver Trust contributing more than half of the total increase. The world's biggest silver ETF recorded +1.73M oz, or +0.53%, increase in holdings to 327.80M oz, followed by a +590.00K oz rise in holdings in Julius Baer Physical Silver Fund and a +495.73K oz rise in ETF Physical Silver Shares. Note that Julius Baer's fund and ETFS (US) ETF added +6.57% and +3.89% respectively during the week. On net, silver holdings soared +2.25M oz, or +0.42%, to 532.21M oz.

Platinum: Julius Baer Physical Platinum Fund contributed most of the increases last week. Holdings in the fund soared +16.06K oz, or +55.6%, to 44.93K oz while ETFS (London) add +6.49K oz, or +1.75%, to 377.53K oz. Gains were however, offset by a +10.12K oz decline in ETFS (US). Total holdings rose +12.43K oz, or +1.18%, to 1.06M oz.

Palladium: Although ETS (London) added +289.02 oz, or +0.05% in holdings, the increase was more than offset by declines in Julius Baer Physical Palladium Fund and ETFS (US). Total holdings fell +923.07oz, or -0.05%, to 1.89M oz.