ETFS to launch precious metals basket

The ETFS Physical Precious Metals Basket Trust will hold physical bullion of the respective precious metals to deliver the return. ETFS says the cost of buying and selling these shares in the secondary market will be lower than the costs involved in trading physical bullion and storing it in a traditionally allocated physical bullion account. The firm adds the physically-backed product mitigates credit risk, as the bullion is not subject to borrowing arrangements with third parties. The trust will issue shares to certain authorized participants, and can be bought in baskets of 50,0...