Professional Documents
Culture Documents
Investment Insights
August 2016
Autocataly st
Jewelry
Industrial
Total
Europe
19%
3%
5%
0%
27 %
North Am erica
5%
3%
5%
2%
14%
Japan
5%
4%
2%
2%
14%
China
3%
20%
3%
0%
26%
India
0%
1%
0%
0%
1%
9%
41%
1%
32%
8%
23%
0%
4%
18%
Others
Total
Source: Metals Focus, ETF Securities. Table data from 1/1/11 to 12/31/15. See
important information for further details.
16%
55%
Consumption as % of GDP
50%
14%
12%
45%
10%
8%
40%
6%
4%
35%
2%
0%
2014
2012
2010
2008
2004
2006
2002
1998
2000
30%
1994
18%
1996
1992
1990
1986
1988
1982
1984
1980
Source: International Monetary Fund, World Bank, ETF Securities. Exhibit data from
1/1/1980 to 12/31/14. See important information for further details.
1
Past performance is no guarantee of future results.
Source: Bloomberg, ETF Securities. Exhibit data from 12/31/2013 to 6/30/16. See
important information for further details.
76
75
40,000
35,000
74
30,000
73
25,000
72
20,000
15,000
71
10,000
70
5,000
69
Jun-16
Feb-16
Apr-16
Oct-15
Dec-15
Jun-15
Aug-15
Feb-15
Apr-15
Oct-14
Dec-14
Jun-14
Aug-14
Feb-14
Apr-14
0.0
Aug-16
1.0
0.5
Jul-16
1.5
Jun-16
2.5
2.0
May-16
3.0
Dec-13
2.0
1.8
1.6
1.4
1.2
1.0
0.8
0.6
0.4
0.2
0.0
3.5
Apr-16
4.0
Investment Outlook
Mar-16
Feb-16
Jan-16
Source: Bloomberg, CFTC, ETF Securities. Exhibit data from 12/31/2016 to 8/12/2016.
See important information for further details.
2
Past performance is no guarantee of future results.
Important Information
The statements and opinions expressed are those of the author and are as of the date of this report. All information is historical and not indicative of
future results and subject to change. Reader should not assume that an investment in any securities and/or precious metals mentioned was or would
be profitable in the future. This information is not a recommendation to buy or sell. Past performance does not guarantee future results.
The ETFS Silver Trust, ETFS Gold Trust, ETFS Platinum Trust, ETFS Palladium Trust and Precious Metals Basket Trust are not
investment companies registered under the Investment Company Act of 1940 or a commodity pool for purposes of the
Commodity Exchange Act. Shares of the Trusts are not subject to the same regulatory requirements as mutual funds. These
investments are not suitable for all investors. Trusts focusing on a single commodity generally experience greater volatility.
Commodities generally are volatile and are not suitable for all investors. Trusts focusing on a single commodity generally experience
greater volatility. Please refer to the prospectus for complete information regarding all risks associated with the Trusts. Shares in the Trusts are not
FDIC insured and may lose value and have no bank guarantee.
The value of the Shares relates directly to the value of the precious metal held by the Trust and fluctuations in the price could materially adversely
affect investment in the Shares. Several factors may affect the price of precious metals, including:
A change in economic conditions, such as a recession, can adversely affect the price of the precious metal held by the Trust. Some metals
are used in a wide range of industrial applications, and an economic downturn could have a negative impact on its demand and,
consequently, its price and the price of the Shares;
Investors expectations with respect to the rate of inflation;
Currency exchange rates;
interest rates;
Investment and trading activities of hedge funds and commodity funds; and
Global or regional political, economic or financial events and situations. Should there be an increase in the level of hedge activity of the
precious metal held by the trust or producing companies, it could cause a decline in world precious metal prices, adversely affecting the
price of the Shares. Should there be an increase in the level of hedge activity of the precious metal held by the Trusts or producing
companies, it could cause a decline in world precious metal prices, adversely affecting the price of the shares.
Also, should the speculative community take a negative view towards the precious metal held by the Trusts, it could cause a decline in prices,
negatively impacting the price of the shares. There is a risk that part or all of the Trusts physical precious metal could be lost, damaged or stolen.
Failure by the Custodian or Sub-Custodian to exercise due care in the safekeeping of the precious metal held by the Trusts could result in a loss to
the Trusts.
The Trusts will not insure its precious metals and shareholders cannot be assured that the custodian will maintain adequate insurance or any
insurance with respect to the precious metals held by the custodian on behalf of the Trust. Consequently, a loss may be suffered with respect to the
Trusts precious metal that is not covered by insurance.
Commodities generally are volatile and are not suitable for all investors.
Please refer to the prospectus for complete information regarding all risks associated with the Trust.
Investors buy and sell shares on a secondary market (i.e., not directly from Trusts). Only market makers or authorized
participants may trade directly with the Trusts, typically in blocks of 50k to 100k shares.
Definitions: The Federal Reserve (Fed) is the central banking system of the United States of America and the Federal Open Market Committee (FOMC) is a
committee within the Fed charged under the United States law with overseeing the nation's open market operations. The European Union (EU) is a politicoeconomic union of 28 member states that are located primarily in Europe. The U.S. Commodity Futures Trading Commission (CFTC) is an independent
agency of the US government that regulates futures and option markets. Gross domestic product (GDP) is the monetary value of all the finished goods and
services produced within a country's borders in a specific time period. The International Monetary Fund (IMF) is an international organization created for
the purpose of standardizing global financial relations and exchange rates. The World Bank is an international organization dedicated to providing financing,
advice and research to developing nations to aid their economic advancement. Brexit is an abbreviation for "British exit," which refers to the June 23, 2016,
referendum whereby British citizens voted to exit the European Union. Year over year = the percent change over a full calendar year.
Commodities generally are volatile and are not suitable for all investors. This material must be accompanied or preceded by
the prospectus. Carefully consider each Trusts investment objectives, risk factors, and fees and expenses before investing.
Please click here to view the prospectus.
ALPS Distributors, Inc. is the marketing agent for ETFS Silver Trust, ETFS Gold Trust, ETFS Platinum Trust, ETFS Palladium
Trust and ETFS Precious Metals Basket Trust.
Maxwell Gold is a registered representative of ALPS Distributors, Inc.
ETF000994 08/31/17