Zurich Cantonal Bank gold ETF holdings rise

LONDON, March 18 Wed Mar 18, 2009 2:10pm GMT

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LONDON, March 18 (Reuters) - Zurich Cantonal Bank (ZKB) said on Wednesday the amount of metal it holds to back its gold exchange-traded fund (ZGLD.S) has risen 13.5 percent since February 5 to 4.138 million ounces.

Its platinum ETF (ZPLA.S) holdings have risen 22 percent in the same period to 160,800 ounces, while holdings of its silver-backed product (ZSIL.S) have climbed 4.38 million ounces or 11.5 percent to 42.889 million ounces.

Investors have bought heavily into precious metals-backed ETFs in recent months as they seek a haven from volatility in other asset classes.

(Reporting by Jan Harvey; Editing by Keiron Henderson)


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