Precious Metals Monitor --- May 2017

ETF Securities (US

) L

LC

405 Lexington Avenue

New York

NY 10174

United

States

t +1 844

– ETFS

– BUY (844 383

7289)

f +1 212 918 4801

e infoUS@etfsecurities.com

w etfsecurities.com

Important Risks

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 profi

table in the future. This information is not a recommendation to buy or sell. Past performance does not guarantee future resu

lts.

The ETFS Silver Trust, ETFS Gold Trust, ETFS Platinum Trust, ETFS Palladium Trust and ETFS

Precious Metals Basket Trust are

no

t 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 s

uitable 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 volatili

ty. Please refer to the prospectus for complete information regarding all risks associated with the Trusts. Shares in the Tru

sts are not

FDIC insured and may lose value and have no bank guarantee.

The value of the Shares relates directly to the value of th

e 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 adver

sely 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, con

sequently,

its price and the price of the Shares;

•

In

vestors’ 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. Shou

ld 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 a

ffecting 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 b

e lost, damaged or stolen.

Failure by the Custod

ian 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 a

dequate 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

Trust’s 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 maker

s or “authorized

participants” may trade directly with the Trusts, typically in blocks of 50k to 100k shares

.

ETFS Physical Precious Metals Basket Index reflects the daily performance of a basket with the following components and ratios: gold (0.030oz), silver

(1.100oz), platinum (0.004oz) and palladium (0.006oz). Bloomberg Commodity Index (BCOM) is a broadly dive

rsified commodity price index. Futures

contract = agreement traded on an organized exchange to buy or sell assets at a fixed price but to be delivered and paid for later. Long position = buying of an

asset with the expectation the asset will rise in value.

Short position = sale of a borrowed asset with the expectation that the asset will fall in value. Spot price =

current market price at which an asset is bought or sold for immediate payment and delivery.

S&P 500 Index is a capitalization

-weighted index of

500 stocks

selected by the Standard & Poor’s Index Committee designed to represent the performance of the leading industries in the U.S.

economy. MSCI Emerging

Markets (EM) Index is an equity index that captures large and midcap representation across Emer

ging Markets countries. Barclays US Aggregate Bond Index

is a broad

-based flagship benchmark measuring investment grade, US dollar, fixed

-rate taxable bond market. The US Dollar (USD)

Index is an index (or

measure) of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of US trade partners' currencies. The

Euro/US Dollar exchange rate is the relative pricing of the euro (the official currency of the European Union) and the US dol

lar. The US Dollar/

Japanese Yen

exchange rate is the relative pricing of the yen (the official currency of Japan) and the US dollar. The HFRX Global Hedge Fu

nd Index is designed to be

representative of the overall composition of the hedge fund universe. Year over year = the percent change over a full calendar year. The Consumer Price Index

(CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services; headline includes

all categories while core

excludes food and energy. South Afric

an Rand (ZAR) = official currency of South Africa. The Purchasing Manufacturing PMI Index (PMI) is an indicator of the

economic health of the manufacturing sector. Producer Price index (PPI) measures the average change in selling prices receive

d by domesti

c producers of

goods and services. The Federal Reserve (Fed) is the central banking system of the Un

ited States of America. COMEX (Commodity Exchange) is

the primary

market for trading metals such as gold, silver

, copper and aluminium. NYMEX = New York Me

rcantile Exchange. The Paris Agreement, or Paris climate accord

and Paris climate agreement, is an agreement within the United Nations Framework Convention on Climate Change (UNFCCC) dealin

g with greenhouse gas

emissions mitigation, adaptation and finance starting in the year 2020.

Commodities generally are volatile and are not suitable for all investors. This material must be accompanied or preceded by the

prospectus. Carefully consider each Trust’s 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.

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