5 Things that Grabbed my Attention
1. ETPMPD closed at $185.37 up 5.93%, which is still well above NAV of $161…..I questioned my contact at Global X over the premium and he said the market makers inventory of PALLADIUM was low!…..If market makers can’t source metal to put into the vaults then they can’t sell ETPMPD units, which means the price of ETPMPD can fluctuate wildly – at one stage yesterday it hit $210.
2. We could be seeing the early stages of a SQUEEZE in the other metal ETFS as well….ETPMAG was fluctuating well above fair value yesterday before closing flat.
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