10-Q

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the Quarterly Period Ended June 30, 2012
or
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the Transition Period from ___________ to _____________
Commission File Number: 001-34917
ETFS PRECIOUS METALS BASKET TRUST
(Exact name of registrant as specified in its charter)

New York	27-2780046
(State or other jurisdiction of incorporation or	(I.R.S. Employer Identification No.)
organization)
c/o ETF Securities USA LLC
48 Wall Street, 11th Floor
New York, NY	10005
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:
(212) 918-4954

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes x No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer”, “accelerated filer”, and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	o	Accelerated filer x
Non accelerated filer	o	Smaller reporting company o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No x

As of August 7, 2012, ETFS Precious Metals Basket Trust has 2,000,000 ETFS Physical PM Basket Shares outstanding.

ETFS PRECIOUS METALS BASKET TRUST

FORM 10-Q

FOR THE QUARTER ENDED JUNE 30, 2012

INDEX

PART I. FINANCIAL INFORMATION
Item 1.	Condensed Financial Statements (Unaudited)	1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	12
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	15
Item 4.	Controls and Procedures	15
Item 4T.	Controls and Procedures	15
PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	16
Item 1.A	Risk Factors	16
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	16
Item 3.	Defaults Upon Senior Securities	16
Item 4.	Mine Safety Disclosures	16
Item 5.	Other Information	16
Item 6.	Exhibits	17
SIGNATURES		18

ETFS PRECIOUS METALS BASKET TRUST

PART I. FINANCIAL INFORMATION

Item 1. Condensed Financial Statements (Unaudited)

Condensed Statements of Financial Condition (Unaudited)
At June 30, 2012 and December 31, 2011

	June 30, 2012			December 31, 2011(3)
ASSETS
Investment in Bullion (1)
Gold	$	88,571,183		$	95,031,713
Silver		60,476,653			67,745,237
Platinum		11,265,082			12,072,539
Palladium		7,040,857			8,339,760
		167,353,775			183,189,249
Total assets	$	167,353,775		$	183,189,249
LIABILITIES
Fees payable to Sponsor	$	86,960		$	107,543
Bullion payable		4,302,195			8,694,716
Total liabilities		4,389,155			8,802,259
REDEEMABLE SHARES AND SHAREHOLDERS’ DEFICIT
Shares at redemption value to investors (2)		172,085,001			182,586,013
Shareholders’ deficit		(9,120,381	)		(8,199,023	)
Total liabilities, redeemable Shares & shareholders’ deficit	$	167,353,775		$	183,189,249

(1)	Bullion is valued at the lower of cost or market value. Refer to Note 2.1 for a breakdown of market value per metal.
(2)	Authorized share capital is unlimited with no par value per share. Shares issued and outstanding at June 30, 2012 were 2,000,000 and at December 31, 2011 were 2,100,000.
(3)	Derived from audited Statement of Financial Condition as of December 31, 2011.

See Notes to the Unaudited Condensed Financial Statements.

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ETFS PRECIOUS METALS BASKET TRUST

Condensed Statements of Operations (Unaudited)
For the three months ended June 30, 2012 and 2011 and the six months ended June 30, 2012 and 2011

	Three Months Ended June 30, 2012			Three Months Ended June 30, 2011			Six Months Ended June 30, 2012			Six Months Ended June 30, 2011
REVENUES
Value of Bullion transferred to pay expenses	$	292,184		$	357,721		$	596,245		$	602,923
Cost of Bullion transferred to pay expenses		(262,652	)		(309,859	)		(535,937	)		(543,222	)
Gain on Bullion transferred to pay expenses	$	29,532		$	47,862		$	60,308		$	59,701
Gain on Bullion distributed for the redemption of Shares		218,228			5,250,833			1,389,862			5,688,912
Unrealized loss on Bullion		(3,380,221	)		(247,742	)		(3,380,221	)		(247,742	)
Total (loss) / gain on Bullion	$	(3,132,461	)	$	5,050,953		$	(1,930,051	)	$	5,500,871
EXPENSES
Sponsor’s Fee		278,873			359,137			575,661			639,485
Total expenses		278,873			359,137			575,661			639,485
Net (loss) / gain from operations	$	(3,411,334	)	$	4,691,816		$	(2,505,712	)	$	4,861,386
Net (loss) / gain per Share	$	(1.64	)	$	1.91		$	(1.21	)	$	2.13
Weighted average number of Shares		2,076,374			2,456,044			2,074,451			2,286,740

See Notes to the Unaudited Condensed Financial Statements

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ETFS PRECIOUS METALS BASKET TRUST

Condensed Statements of Cash Flows (Unaudited)
For the three months ended June 30, 2012 and 2011 and the six months ended June 30, 2012 and 2011

	Three Months Ended June 30, 2012			Three Months Ended June 30, 2011			Six Months Ended June 30, 2012			Six Months Ended June 30, 2011
INCREASE / (DECREASE) IN CASH FROM OPERATIONS:
Cash proceeds received from transfer of Bullion	$	—		$	—		$	—		$	—
Cash expenses paid		—			—			—			—
Increase in cash resulting from operations	$	—		$	—		$	—		$	—
Cash and cash equivalents at beginning of period		—			—			—			—
Cash and cash equivalents at end of period	$	—		$	—		$	—		$	—
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:
Value of Bullion received for creation of Shares	$	—		$	50,640,859		$	4,726,778		$	104,271,834
Value of Bullion distributed for redemption of Shares - at average cost	$	4,164,927		$	34,410,768		$	16,646,094		$	42,627,019
RECONCILIATION OF NET (LOSS) / GAIN TO NET CASH PROVIDED BY OPERATING ACTIVITIES:
Net (loss) / gain from operations	$	(3,411,334	)	$	4,691,816		$	(2,505,712	)	$	4,861,386
Adjustments to reconcile net (loss) / gain to net cash provided by operating activities:
Decrease / (increase) in Bullion assets		7,807,802			(15,672,491	)		15,835,474			(60,853,851	)
Decrease in Bullion receivable		—			4,813,115			—			4,378,396
Increase / (decrease) in Bullion payable		4,302,195			—			(4,392,521	)		—
(Increase) / decrease in amounts payable to Sponsor		(13,309	)		1,422			(20,583	)		36,568
Increase / (decrease) in redeemable Shares:
Creations		—			45,827,741			4,726,778			99,893,433
Redemptions		(8,685,354	)		(39,661,603	)		(13,643,436	)		(48,315,932	)
Net cash provided by operating activities	$	—		$	—		$	—		$	—
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Value of Bullion transferred to pay expenses	$	292,184		$	357,721		$	596,245		$	602,923

See Notes to the Unaudited Condensed Financial Statements

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ETFS PRECIOUS METALS BASKET TRUST

Condensed Statement of Changes in Shareholders’ Deficit (Unaudited)
For the six months ended June 30, 2012

	Six Months Ended June 30, 2012
Shareholders’ deficit - opening balance	$	(8,199,023	)
Net loss for the year		(2,505,712	)
Adjustment of redeembable Shares to redemption value		1,584,354
Shareholders’ deficit - closing balance	$	(9,120,381	)

See Notes to the Unaudited Condensed Financial Statements

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ETFS PRECIOUS METALS BASKET TRUST

Notes to the Unaudited Condensed Financial Statements

1. Organization

The ETFS Precious Metals Basket Trust (the “Trust”) is an investment trust formed on October 18, 2010, under New York law pursuant to a depositary trust agreement (the “Trust Agreement”) executed by ETF Securities USA LLC (the “Sponsor”) and the Bank of New York Mellon (the “Trustee”) at the time of the Trust’s organization. The Trust holds gold, silver, platinum and palladium in set ratios (together, “Bullion”) and issues ETFS Physical PM Basket Shares (“Shares”) (in minimum blocks of 50,000 Shares, also referred to as “Baskets”) in exchange for deposits of Bullion and distributes Bullion in connection with the redemption of Baskets. Shares represent units of fractional undivided beneficial interest in and ownership of the Trust which are issued by the Trust. The Sponsor is a Delaware limited liability company and a wholly-owned subsidiary of ETF Securities Limited, a Jersey, Channel Islands based company. The Trust is governed by the Trust Agreement.

The investment objective of the Trust is for the Shares to reflect the performance of the price of gold, silver, platinum and palladium, less the Trust’s expenses and liabilities. The Trust is designed to provide an individual owner of beneficial interests in the Shares (a “Shareholder”) an opportunity to participate in the gold, silver, platinum and palladium market through an investment in securities. The fiscal year end for the Trust is December 31.

The accompanying unaudited condensed financial statements were prepared in accordance with the accounting principles generally accepted in the United States of America for interim financial information and with the instructions for the Form 10-Q. In the opinion of management of the Sponsor, all adjustments (which include normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the three and six months ended June 30, 2012 and for all periods presented have been made.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed financial statements should be read in conjunction with the Trust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011. The results of operations for the three and six months ended June 30, 2012 are not necessarily indicative of the operating results for the full year.

2. Significant Accounting Policies

The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed by the Trust.

2.1. Valuation of Bullion

Bullion is held by JPMorgan Chase Bank, N.A. (the “Custodian”), on behalf of the Trust, at its London, England vaulting premises on a segregated basis. The allocated Platinum and Palladium is held by UBS AG (the “Zurich Sub-Custodian”) at its Zurich, Switzerland vaulting premises on a segregated basis. The Trust’s Bullion is valued, per individual metal type, for financial statement purposes, at the lower of cost or market. The cost of Bullion is determined according to the average cost method and the market value is based on the “London Fix” (the applicable fix for each metal of the price of an ounce of such metal and is performed in London, England by fixing members of the London Bullion Market Association (“LBMA”) or London Platinum and Palladium Market (“LPPM”), as applicable) for each metal held by the Trust used to determine the net asset value (the “NAV”) of the Trust. Realized gains and losses on transfers of Bullion, or Bullion distributed for the redemption of Shares, are calculated on a trade date basis using average cost.

Once the value of Bullion has been determined, the NAV is computed by the Trustee by deducting all accrued fees, expenses and other liabilities of the Trust, including the remuneration due to the Sponsor (the “Sponsor’s Fee”), from the fair value of the Bullion and all other assets held by the Trust.

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ETFS PRECIOUS METALS BASKET TRUST

2. Significant Accounting Policies (Continued)

2.1. Valuation of Bullion (Continued)

At December 31, 2011, the market value of silver, platinum and palladium was below average cost, therefore losses of $8,996,839, $3,266,375 and $1,189,102, respectively, were realized on the investment in Bullion. The average costs per ounce of silver, platinum and palladium were reduced to $28.18, $1,381.00 and $636.00 respectively.

The table below summarizes the unrealized gains or losses on the Trust’s Bullion holdings as of June 30, 2012 and December 31, 2011:

	June 30, 2012
	Gold		Silver			Platinum		Palladium			Total
Investment in Bullion - average cost	$	88,571,183	$	63,134,696		$	11,265,082	$	7,763,035		$	170,733,996
Unrealized gain / (loss) on investment in Bullion		8,788,759		(2,658,043	)		331,622		(722,178	)		5,740,160
Investment in Bullion - market value	$	97,359,942	$	60,476,653		$	11,596,704	$	7,040,857		$	176,474,156

	December 31, 2011
Investment in Bullion-average cost	$	95,031,713	$	76,742,076		$	15,338,914		$	9,528,862		$	196,641,565
Realized loss on investment in Bullion		—		(8,996,839	)		(3,266,375	)		(1,189,102	)		(13,452,316	)
Investment in Bullion - lower of cost or market value	$	95,031,713	$	67,745,237		$	12,072,539		$	8,339,760		$	183,189,249
Unrealized gain on investment in Bullion		8,199,023		—			—			—			8,199,023
Investment in Bullion - market value	$	103,230,736	$	67,745,237		$	12,072,539		$	8,339,760		$	191,388,272

The Trust recognizes the diminution in value of the investment in Bullion which arises from market declines on an interim basis. Increases in the value of the investment in Bullion through market price recoveries in later interim periods of the same fiscal year are recognized in the later interim period. Increases in value recognized on an interim basis may not exceed the previously recognized diminution in value.

The per Share amount of Bullion exchanged for a purchase or redemption is calculated daily by the Trustee, using the London Fix for each metal held by the Trust to calculate the Bullion amount in respect of any liabilities for which covering Bullion sales have not yet been made, and represents the per Share amount of Bullion held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred.

2.2. Bullion Receivable and Payable

Bullion receivable or payable represents the quantity of Bullion covered by contractually binding orders for the creation or redemption of Shares respectively, where the Bullion has not yet been transferred to or from the Trust’s account. Generally, ownership of the Bullion is transferred within three business days of the trade date. Bullion receivable or payable at June 30, 2012 and December 31, 2011 is set out below:

	June 30, 2012		December 31, 2011
Bullion receivable	$	—	$	—
Bullion payable	$	4,302,195	$	8,694,716

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ETFS PRECIOUS METALS BASKET TRUST

2. Significant Accounting Policies (continued)

2.3. Creations and Redemptions of Shares

The Trust expects to create and redeem Shares from time to time, but only in one or more Baskets. The Trust issues Shares in Baskets to Authorized Participants on an ongoing basis. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. An Authorized Participant is a person who (1) is a registered broker-dealer or other securities market participant such as a bank or other financial institution which is not required to register as a broker-dealer to engage in securities transactions, (2) is a participant in The Depository Trust Company, (3) has entered into an Authorized Participant Agreement with the Trustee and the Sponsor, and (4) has established an Authorized Participant Unallocated Account with the Trust’s Custodian or other Bullion clearing bank. An Authorized Participant Agreement is an agreement entered into by each Authorized Participant, the Sponsor and the Trustee which provides the procedures for the creation and redemption of Baskets and for the delivery of the Bullion required for such creations and redemptions. An Authorized Participant Unallocated Account is an unallocated Bullion account, either loco London or loco Zurich, established with the Custodian or a Bullion clearing bank by an Authorized Participant.

The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of Bullion represented by the Baskets being created or redeemed, the amount of which is based on the combined NAV of the number of Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.

Authorized Participants may, on any business day, place an order with the Trustee to create or redeem one or more Baskets. The typical settlement period for Shares is three business days. In the event of a trade date at period end, where a settlement is pending, a respective account receivable and/or payable will be recorded. When Bullion is exchanged in settlement of a redemption, it is considered a sale of Bullion for financial statement purposes.

The amount of bullion represented by the Baskets created or redeemed can only be settled to the nearest 1/1000^th of an ounce. As a result, the value attributed to the creation or redemption of Shares may differ from the value of bullion to be delivered or distributed by the Trust. In order to ensure that the correct metal is available at all times to back the Shares, the Sponsor accepts an adjustment to its management fees in the event of any shortfall or excess. For each transaction, this amount is not more than 1/1000^th of an ounce.

The Shares of the Trust are classified as “Redeemable Shares” for financial statement purposes, since they are subject to redemption at the option of Authorized Participants. Outstanding Shares are reflected at redemption value, which represents the maximum obligation (based on NAV per Share), with the difference from historical cost recorded as an offsetting amount to retained earnings. When Bullion is exchanged in settlement of a redemption, a gain or loss in the amount of the difference between the market value on the trade date and the historical cost is recorded through the Condensed Statement of Operations.

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2. Significant Accounting Policies (continued)

2.3. Creations and Redemptions of Shares (continued)

Changes in the Shares for the six months ended June 30, 2012 and for the year ended December 31, 2011 are set out below:

	Six Months Ended June 30, 2012			Year Ended December 31, 2011
Number of redeemable Shares
Opening balance		2,100,000			1,900,000
Creations		50,000			1,450,000
Redemptions		(150,000	)		(1,250,000	)
Closing balance		2,000,000			2,100,000
Redeemable Shares
Opening balance	$	182,586,013		$	166,379,066
Creations		4,726,778			143,112,185
Redemptions		(13,643,436	)		(120,762,519	)
Adjustments to redemption value		(1,584,354	)		(6,142,719	)
Closing balance	$	172,085,001		$	182,586,013
Redemption value per Share at period end	$	86.04		$	86.95

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ETFS PRECIOUS METALS BASKET TRUST

2.4. Revenue Recognition Policy

The primary expense of the Trust is the Sponsor’s Fee, which is paid by the Trust through in-kind transfers of Bullion to the Sponsor. With respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s Bullion as necessary to pay these expenses. When selling Bullion to pay expenses, the Trustee will endeavor to sell the smallest amounts of Bullion needed to pay these expenses in order to minimize the Trust’s holdings of assets other than Bullion.

Unless otherwise directed by the Sponsor, when selling Bullion the Trustee will endeavor to sell at the price established by the London Fix for each metal held by the Trust. The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable price and execution of orders. The Custodian may be the purchaser of such Bullion only if the sale transaction is made at the London Fix for each metal held by the Trust used by the Trustee to value the Trust’s Bullion. A gain or loss is recognized based on the difference between the selling price and the average cost of the Bullion sold. Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale.

2.5. Income Taxes

The Trust is classified as a “grantor trust” for U.S. federal income tax purposes. As a result, the Trust itself will not be subject to U.S. federal income tax. Instead, the Trust’s income and expenses will “flow through” to the Shareholders, and the Trustee will report the Trust’s proceeds, income, deductions, gains, and losses to the Internal Revenue Service on that basis.

The Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of June 30, 2012 and December 31, 2011.

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ETFS PRECIOUS METALS BASKET TRUST

2. Significant Accounting Policies (Continued)

2.6. Investment in Bullion

Changes in ounces of Bullion and the respective values for the six months ended June 30, 2012 and for the year ended December 31, 2011 are set out below:

	Six Months Ended June 30, 2012
	Gold			Silver			Platinum			Palladium			Total
Ounces of Bullion:
Opening balance		65,564.1			2,404,018.4			8,741.9			13,112.8			2,491,437.2
Creations		1,487.3			54,533.4			198.3			297.5			56,516.5
Redemptions (excluding bullion payable at June 30, 2012 -1,484.8, 54,443.8, 197.9 and 297.0, respectively)		(5,952.8	)		(218,270.8	)		(793.7	)		(1,190.6	)		(226,207.9	)
Transfers of Bullion		(191.5	)		(7,021.9	)		(25.5	)		(38.3	)		(7,277.2	)
Closing balance		60,907.1			2,233,259.1			8,121.0			12,181.4			2,314,468.6
Investment in Bullion (lower of cost or market):
Opening balance	$	95,031,713		$	67,745,237		$	12,072,539		$	8,339,760		$	183,189,249
Creations		2,452,885			1,743,432			325,217			205,244			4,726,778
Redemptions (excluding bullion payable at June 30, 2012 - $2,159,242, $1,539,137, $274,627, and $189,252, respectively)*		(8,635,389	)		(6,155,785	)		(1,097,337	)		(757,583	)		(16,646,094	)
Transfers of Bullion		(278,026	)		(198,188	)		(35,337	)		(24,386	)		(535,937	)
Unrealized loss on investment in Bullion		—			(2,658,043	)		—			(722,178	)		(3,380,221	)
Closing balance	$	88,571,183		$	60,476,653		$	11,265,082		$	7,040,857		$	167,353,775

	Year ended December 31, 2011
	Gold			Silver			Platinum			Palladium			Total
Ounces of Bullion:
Opening balance		55,461.9			2,033,601.3			7,395.0			11,092.3			2,107,550.5
Creations		44,859.8			1,644,859.4			5,981.2			8,972.0			1,704,672.4
Redemptions (excluding bullion payable at December 31, 2011 - 2,978.6, 109,213.9, 397.1 and 595.7, respectively)		(34,336.6	)		(1,259,007.4	)		(4,578.2	)		(6,867.3	)		(1,304,789.5	)
Transfers of Bullion		(421.0	)		(15,434.9	)		(56.1	)		(84.2	)		(15,996.2	)
Closing balance		65,564.1			2,404,018.4			8,741.9			13,112.8			2,491,437.2
Investment in Bullion (lower of cost or market):
Opening balance	$	76,213,472		$	54,148,351		$	12,716,653		$	7,566,140		$	150,644,616
Creations		68,061,096			61,734,789			10,720,634			6,974,063			147,490,582
Redemptions (excluding bullion payable at December 31, 2011 - $4,317,263, $3,077,647, $548,453, and $378,873, respectively)*		(48,650,097	)		(38,678,514	)		(8,000,519	)		(4,951,043	)		(100,280,173	)
Transfers of Bullion		(592,758	)		(462,550	)		(97,854	)		(60,298	)		(1,213,460	)
Realized loss on investment in Bullion		—			(8,996,839	)		(3,266,375	)		(1,189,102	)		(13,452,316	)
Closing balance	$	95,031,713		$	67,745,237		$	12,072,539		$	8,339,760		$	183,189,249

*Market value of Bullion payable at December 31, 2011 - $4,689,743, $3,077,647, $548,453 and $378,873, respectively.

Market value of Bullion payable at June 30, 2012 - $2,373,501, $1,474,337, $282,711 and $171,646, respectively.

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ETFS PRECIOUS METALS BASKET TRUST

2. Significant Accounting Policies (Continued)

2.7. Expenses

The Trust will transfer Bullion to the Sponsor to pay the Sponsor’s Fee that will accrue daily at an annualized rate equal to 0.60% of the adjusted net asset value (the “ANAV) of the Trust, paid monthly in arrears.

The Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and out of pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and certain legal expenses.

For the three months ended June 30, 2012 and June 30, 2011 the Sponsor’s Fee was $278,873 and $359,137, respectively. For the six months ended June 30, 2012 and June 30, 2011 the Sponsor’s Fee was $575,661 and $639,485, respectively. At June 30, 2012 and at December 31, 2011, the fees payable to the Sponsor were $86,960 and $107,543, respectively.

2.8. Subsequent Events

In accordance with the provisions set forth in Financial Accounting Standards Board Accounting Standards Codification 855-10, Subsequent Events, the Trust’s management has evaluated the possibility of subsequent events existing in the Trust’s financial statements through the filing date. During this period, no material subsequent events were identified.

3. Related Parties

The Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee’s fee is paid by the Sponsor and is not a separate expense of the Trust. The Trustee and the Custodian and their affiliates may from time to time act as Authorized Participants or purchase or sell Bullion or Shares for their own account, as agent for their customers and for accounts over which they exercise investment discretion.

4. Concentration of Risk

The Trust’s sole business activity is the investment in Bullion, and substantially all the Trust’s assets are holdings of Bullion which creates a concentration risk associated with fluctuations in the price of Bullion. Several factors could affect the price of Bullion, including: (i) global Bullion supply and demand, which is influenced by factors such as forward selling by Bullion producers, purchases made by Bullion producers to unwind Bullion hedge positions, central bank purchases and sales, and production and cost levels in major Bullion-producing countries; (ii) investors’ expectations with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates; (v) investment and trading activities of hedge funds and commodity funds; and (vi) global or regional political, economic or financial events and situations. In addition, there is no assurance that Bullion will maintain its long-term value in terms of purchasing power in the future. In the event that the price of Bullion declines, the Sponsor expects the value of an investment in the Shares to decline proportionately. Each of these events could have a material effect on the Trust’s financial position and results of operations.

5. Indemnification

Under the Trust’s organizational documents, the Trustee (and its directors, employees and agents) and the Sponsor (and its members, managers, directors, officers, employees and affiliates) is indemnified by the Trust against any liability, cost or expense it incurs without gross negligence, bad faith or willful misconduct on its part and without reckless disregard on its part of its obligations and duties under the Trust’s organizational documents. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

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ETFS PRECIOUS METALS BASKET TRUST

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This information should be read in conjunction with the unaudited condensed financial statements and notes to the unaudited condensed financial statements included in Item 1 of Part 1 of this Form 10-Q. The discussion and analysis that follows may contain forward-looking statements with respect to the Trust’s financial conditions, operations, future performance and business. These statements can be identified by the use of the words “may”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential” or similar words and phrases. These statements are based upon certain assumptions and analyses the Sponsor has made based on its perception of historical trends, current conditions and expected future developments. Neither the Trust nor the Sponsor is under a duty to update any of the forward looking statements, to conform such statements to actual results or to reflect a change in management’s expectations or predictions.

Introduction

The Trust is a common law trust, formed under the laws of the state of New York on the October 18, 2010. The Trust is not managed like a corporation or an active investment vehicle. It does not have any officers, directors, or employees and is administered by the Trustee pursuant to the Trust. The Trust is not registered as an investment company under the Investment Company Act of 1940 and is not required to register under such act. It will not hold or trade in commodity futures contracts, nor is it a commodity pool, subject to regulation as a commodity pool operator or a commodity trading adviser in connection with issuing Shares.

The Trust holds Bullion (consisting of gold, silver, platinum and palladium bullion in specified proportions) and is expected to issue Baskets in exchange for deposits of Bullion, and to distribute Bullion in connection with redemptions of Baskets. Shares issued by the Trust represent units of undivided beneficial interest in the ownership of the Trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold, silver, platinum and palladium in the proportions held by the Trust, less the Trust’s expenses. The Trust holds Bullion in a ratio such that for every 0.03 ounces of gold, it holds 1.1 ounces of silver, 0.004 ounces of platinum and 0.006 ounces of palladium. The Sponsor believes that, for many investors, the Shares will represent a cost effective investment relative to traditional means of investing in Bullion.

The Trust issues and redeems Shares only with Authorized Participants in exchange for Bullion, only in aggregations of 50,000 or integral multiples thereof. A list of current Authorized Participants is available from the Sponsor or the Trustee.

Shares of the Trust trade on the New York Stock Exchange (the “NYSE”) Arca under the symbol “GLTR.”

Valuation of Bullion and Computation of Net Asset Value

On each business day, as promptly as practicable after 4:00 p.m., New York time, on such day (the “Evaluation Time”), the Trustee values the Bullion held by the Trust and determines both the ANAV and the NAV of the Trust.

At the Evaluation Time, the Trustee values the Trust’s Bullion on the basis of that day’s “London Fix” for such metal (the applicable fix for each metal of the price of an ounce of such metal and is performed in London, England by fixing members of the London Bullion Market Association (“LBMA”) or London Platinum and Palladium Market (“LPPM”), as applicable), or if no London Fix is made for a metal on such day or has not been announced by the Evaluation Time, the next most recent London Fix for such metal determined prior to the Evaluation Time will be used, unless the Sponsor determines that such price is inappropriate as a basis for Evaluation. In the case this determination is made, the Sponsor will identify an alternative basis for such evaluation to be used by the Trustee.

Gold held by the Trust will typically be valued on the basis of the price of an ounce of gold as set by the afternoon session of the twice daily fix of the price of an ounce of gold which starts at 3:00 PM London, England time and is performed in London by the five members of the LBMA. Silver held by the Trust will typically be valued on the basis of the price of an ounce of silver as set at approximately 12:00 noon London time and performed in London by three market making members of the LBMA. Platinum held by the Trust will typically be valued on the basis of the price of an ounce of platinum as set by the afternoon session of the twice daily fix of the price of an ounce of platinum which starts at 2:00 PM London, England time and is performed in London by the four fixing members of the LPPM. Palladium held by the Trust will typically be valued on the basis of the price of an ounce of palladium as set by the afternoon session of the twice daily fix of the price of an ounce of palladium which starts at 2:00 PM London, England time and is performed in London by the four fixing members of the LPPM.

Once the value of Bullion held by the Trust has been determined, the Trustee subtracts all estimated accrued but unpaid fees and other liabilities of the Trust from the total value of the Bullion and all other assets of the Trust. The resulting figure is the ANAV of the Trust. The ANAV is used to compute the Sponsor’s Fee.

The Trustee then subtracts from the ANAV the amount of Sponsor’s Fees computed for such day to determine the net asset value (“NAV”) of the Trust. The Trustee also determines the NAV per Share by dividing the NAV of the Trust by the number of Shares outstanding as of the close of trading on the NYSE Arca.

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ETFS PRECIOUS METALS BASKET TRUST

The Quarter Ended June 30, 2012

The NAV of the Trust is obtained by subtracting the Trust’s liabilities on any day from the value of the Bullion owned and receivable by the Trust on that day; the NAV per Share is obtained by dividing the NAV of the Trust on a given day by the number of Shares outstanding on that day.

The Trust’s NAV decreased from $199,885,830 at March 31, 2012 to $172,085,001 at June 30, 2012, a 13.91% decrease for the quarter. The decrease in the Trust’s NAV resulted primarily from a decrease in the price per ounce of gold, silver, platinum and palladium in the proportions held by the Trust (the “Proportionate Price”) which fell 9.47% and a decrease in outstanding Shares, which fell from 2,100,000 Shares at March 31, 2012 to 2,000,000 Shares at June 30, 2012, a result of 0 Shares (0 Baskets) being created and 100,000 Shares (2 Baskets) being redeemed during the quarter.

NAV per Share decreased 9.60% from $95.18 at March 31, 2012 to $86.04 at June 30, 2012. The Trust’s NAV per Share fell slightly more than the Proportionate Price on a percentage basis due to Sponsor’s Fees, which were $278,873 for the quarter, or 0.60% of the Trust’s assets on an annualized basis.

The NAV per Share of $96.31 at April 3, 2012 was the highest during the quarter, compared with a low of $84.45 at June 28, 2012.

Net loss from operations for the quarter ended June 30, 2012 was $3,411,334, resulting from a net gain of $29,532 on the transfer of Bullion to pay expenses and a net gain of $218,228 on Bullion distributed for the redemption of Shares, offset by an unrealized loss of $3,380,221 on Bullion and Sponsor’s Fees of $278,873. Other than the Sponsor’s Fee, the Trust had no expenses during the quarter ended June 30, 2012.

The Six Months Ended June 30, 2012

The Trust’s NAV decreased from $182,586,013 at December 31, 2011 to $172,085,001 at June 30, 2012, a 5.75% decrease for the period. The decrease in the Trust’s NAV resulted primarily from a decrease in Proportionate Price which fell 0.74% and a decrease in outstanding Shares, which fell from 2,100,000 Shares at December 31, 2011 to 2,000,000 Shares at June 30, 2012, a result of 50,000 Shares (1 Basket) being created and 150,000 Shares (3 Baskets) being redeemed during the period.

NAV per Share decreased 1.05% from $86.95 at December 31, 2011 to $86.04 at June 30, 2012. The Trust’s NAV per Share fell slightly more than the Proportionate Price on a percentage basis due to Sponsor’s Fees, which were $575,661 for the period, or 0.60% of the Trust’s assets on an annualized basis.

The NAV per Share of $104.43 at February 29, 2012 was the highest during the period, compared with a low of $84.45 at June 28, 2012.

Net loss from operations for the period ended June 30, 2012 was $2,505,712, resulting from a net gain of $60,308 on the transfer of Bullion to pay expenses and a net gain of $1,389,862 on Bullion distributed for the redemption of Shares, offset by an unrealized loss of $3,380,221 on Bullion and Sponsor’s Fees of $575,661. Other than the Sponsor’s Fee, the Trust had no expenses during the period ended June 30, 2012.

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ETFS PRECIOUS METALS BASKET TRUST

Liquidity & Capital Resources

The Trust is not aware of any trends, demands, commitments, events or uncertainties that are reasonably likely to result in material changes to its liquidity needs. In exchange for the Sponsor’s Fee, the Sponsor has agreed to assume most of the expenses incurred by the Trust. As a result, the only ordinary expense of the Trust during the period covered by this report was the Sponsor’s Fee.

The Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s Bullion as necessary to pay the Trust’s expenses not otherwise assumed by the Sponsor. The Trustee will not sell Bullion to pay the Sponsor’s Fee but will pay the Sponsor’s Fee through in-kind transfers of Bullion to the Sponsor. At June 30, 2012 the Trust did not have any cash balances.

Off-Balance Sheet Arrangements

The Trust has no off-balance sheet arrangements.

Critical Accounting Policies

The unaudited condensed financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these unaudited condensed financial statements relies on estimates and assumptions that impact the Trust’s financial position and results of operations. These estimates and assumptions affect the Trust’s application of accounting policies. In addition, please refer to Note 2 to the unaudited condensed financial statements for further discussion of accounting policies.

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ETFS PRECIOUS METALS BASKET TRUST

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Not applicable.

Item 4. Controls and Procedures

The Trust maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in its reports under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to the Chief Executive Officer and Chief Financial Officer of the Sponsor, and to the audit committee, as appropriate, to allow timely decisions regarding required disclosure.

Under the supervision and with the participation of the Chief Executive Officer and the Chief Financial Officer of the Sponsor, the Sponsor conducted an evaluation of the Trust’s disclosure controls and procedures, as defined under Exchange Act Rules 13a-15(e) and 15(d)-15(e). Based on this evaluation, the Chief Executive Officer and the Chief Financial Officer of the Sponsor concluded that, as of June 30, 2012, the Trust’s disclosure controls and procedures were effective.

There have been no changes in the Trust’s or Sponsor’s internal control over financial reporting that occurred during the Trust’s fiscal quarter ended June 30, 2012 that have materially affected, or are reasonably likely to materially affect, the Trust’s or Sponsor’s internal control over financial reporting.

Item 4T. Controls and Procedures

Not applicable.

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ETFS PRECIOUS METALS BASKET TRUST

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

None.

Item 1A. Risk Factors

There have been no material changes to the risk factors previously disclosed in the Trust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Item 2(a).	None.
Item 2(b).	Not applicable.
Item 2(c).	For the three months ended June 30, 2012:
	0 Baskets were created.
	2 Baskets were redeemed.

	Total Baskets Redeemed		Total Shares Redeemed		Average Ounces of Bullion Per Share
Period					Gold		Silver		Platinum		Palladium
April 2012		—		—		—		—		—		—
May 2012		1		50,000		0.030		1.090		0.004		0.006
June 2012		1		50,000		0.030		1.089		0.004		0.006
Total		2		100,000

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

None.

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ETFS PRECIOUS METALS BASKET TRUST

Item 6. Exhibits

(a) Exhibits
31.1	Chief Executive Officer’s Certificate, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Chief Financial Officer’s Certificate, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Chief Executive Officer’s Certificate, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2	Chief Financial Officer’s Certificate, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS	XBRL Instance Document*
101.SCH	XBRL Taxonomy Extension Schema Document*
101.CAL	XBRL Taxonomy Extension Calculation Document*
101.DEF	XBRL Taxonomy Extension Definitions Document*
101.LAB	XBRL Taxonomy Extension Labels Document*
101.PRE	XBRL Taxonomy Extension Presentation Document*

* In accordance with Regulation S-T, the XBRL-related information in Exhibit 101 to this Quarterly Report on Form 10-Q shall be deemed to be “furnished” and not “filed.”

17

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned in the capacities thereunto duly authorized.

	ETF SECURITIES USA LLC
	Sponsor of the ETFS Precious Metals Basket Trust
		(Registrant)
Date: August 9, 2012	/s/ Graham Tuckwell
	Graham Tuckwell
	President and Chief Executive Officer
	(Principal Executive Officer)
Date: August 9, 2012	/s/ Thomas Quigley
	Thomas Quigley
	Chief Financial Officer and Treasurer
	(Principal Financial Officer and Principal
	Accounting Officer)

* The Registrant is a trust and the persons are signing in their capacities as officers of ETF Securities USA LLC, the Sponsor of the Registrant.

18

EX-31.1

Exhibit 31.1

FORM OF CERTIFICATION
PURSUANT TO RULE 13a-14 AND 15d-14
UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
CERTIFICATIONS

I, Graham Tuckwell, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of ETFS Precious Metals Basket Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 9, 2012	/s/ Graham Tuckwell
	Graham Tuckwell
	President and Chief Executive Officer
	(Principal Executive Officer)

* The Registrant is a trust and Mr. Tuckwell is signing in his capacity as an officer of ETF Securities USA LLC, the Sponsor of the Registrant.

EX-31.2

Exhibit 31.2

FORM OF CERTIFICATION
PURSUANT TO RULE 13a-14 AND 15d-14
UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED
CERTIFICATIONS

I, Thomas Quigley, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of ETFS Precious Metals Basket Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 9, 2012	/s/ Thomas Quigley
	Thomas Quigley
	Chief Financial Officer and Treasurer
	(Principal Financial Officer and Principal Accounting Officer)

* The Registrant is a trust and Mr. Quigley is signing in his capacity as an officer of ETF Securities USA LLC, the Sponsor of the Registrant.

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of ETFS Precious Metals Basket Trust (the “Company”) on Form 10-Q for the period ended June 30, 2012 as filed with the Securities and Exchange Commission on August 9, 2012 (the “Report”), the undersigned, in the capacity and on the date indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 9, 2012	/s/ Graham Tuckwell
	Graham Tuckwell
	President and Chief Executive Officer
	(Principal Executive Officer)

* The Registrant is a trust and Mr. Tuckwell is signing in his capacity as an officer of ETF Securities USA LLC, the Sponsor of the Registrant.

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of ETFS Precious Metals Basket Trust (the “Company”) on Form 10-Q for the period ended June 30, 2012 as filed with the Securities and Exchange Commission on August 9, 2012 (the “Report”), the undersigned, in the capacity and on the date indicated below, hereby certifies pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: August 9, 2012	/s/ Thomas Quigley
	Thomas Quigley
	Chief Financial Officer and Treasurer
	(Principal Financial Officer and Principal Accounting Officer)

* The Registrant is a trust and Mr. Quigley is signing in his capacity as an officer of ETF Securities USA LLC, the Sponsor of the Registrant.

XML

Related Parties

6 Months Ended

Jun. 30, 2012

Related Party Transactions Disclosure [Text Block]

3. Related Parties

The Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee’s fee is paid by the Sponsor and is not a separate expense of the Trust. The Trustee and the Custodian and their affiliates may from time to time act as Authorized Participants or purchase or sell Bullion or Shares for their own account, as agent for their customers and for accounts over which they exercise investment discretion.

XML

Significant Accounting Policies

6 Months Ended

Jun. 30, 2012

Significant Accounting Policies [Text Block]

2. Significant Accounting Policies

The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed by the Trust.

2.1. Valuation of Bullion

Bullion is held by JPMorgan Chase Bank, N.A. (the “Custodian”), on behalf of the Trust, at its London, England vaulting premises on a segregated basis. The allocated Platinum and Palladium is held by UBS AG (the “Zurich Sub-Custodian”) at its Zurich, Switzerland vaulting premises on a segregated basis. The Trust’s Bullion is valued, per individual metal type, for financial statement purposes, at the lower of cost or market. The cost of Bullion is determined according to the average cost method and the market value is based on the “London Fix” (the applicable fix for each metal of the price of an ounce of such metal and is performed in London, England by fixing members of the London Bullion Market Association (“LBMA”) or London Platinum and Palladium Market (“LPPM”), as applicable) for each metal held by the Trust used to determine the net asset value (the “NAV”) of the Trust. Realized gains and losses on transfers of Bullion, or Bullion distributed for the redemption of Shares, are calculated on a trade date basis using average cost.

Once the value of Bullion has been determined, the NAV is computed by the Trustee by deducting all accrued fees, expenses and other liabilities of the Trust, including the remuneration due to the Sponsor (the “Sponsor’s Fee”), from the fair value of the Bullion and all other assets held by the Trust.

At December 31, 2011, the market value of silver, platinum and palladium was below average cost, therefore losses of $8,996,839, $3,266,375 and $1,189,102, respectively, were realized on the investment in Bullion. The average costs per ounce of silver, platinum and palladium were reduced to $28.18, $1,381.00 and $636.00 respectively.

The table below summarizes the unrealized gains or losses on the Trust’s Bullion holdings as of June 30, 2012 and December 31, 2011:

	June 30, 2012
	Gold		Silver			Platinum		Palladium			Total
Investment in Bullion - average cost	$	88,571,183	$	63,134,696		$	11,265,082	$	7,763,035		$	170,733,996
Unrealized gain / (loss) on investment in Bullion		8,788,759		(2,658,043	)		331,622		(722,178	)		5,740,160
Investment in Bullion - market value	$	97,359,942	$	60,476,653		$	11,596,704	$	7,040,857		$	176,474,156

	December 31, 2011
Investment in Bullion-average cost	$	95,031,713	$	76,742,076		$	15,338,914		$	9,528,862		$	196,641,565
Realized loss on investment in Bullion		—		(8,996,839	)		(3,266,375	)		(1,189,102	)		(13,452,316	)
Investment in Bullion - lower of cost or market value	$	95,031,713	$	67,745,237		$	12,072,539		$	8,339,760		$	183,189,249
Unrealized gain on investment in Bullion		8,199,023		—			—			—			8,199,023
Investment in Bullion - market value	$	103,230,736	$	67,745,237		$	12,072,539		$	8,339,760		$	191,388,272

The Trust recognizes the diminution in value of the investment in Bullion which arises from market declines on an interim basis. Increases in the value of the investment in Bullion through market price recoveries in later interim periods of the same fiscal year are recognized in the later interim period. Increases in value recognized on an interim basis may not exceed the previously recognized diminution in value.

The per Share amount of Bullion exchanged for a purchase or redemption is calculated daily by the Trustee, using the London Fix for each metal held by the Trust to calculate the Bullion amount in respect of any liabilities for which covering Bullion sales have not yet been made, and represents the per Share amount of Bullion held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred.

2.2. Bullion Receivable and Payable

Bullion receivable or payable represents the quantity of Bullion covered by contractually binding orders for the creation or redemption of Shares respectively, where the Bullion has not yet been transferred to or from the Trust’s account. Generally, ownership of the Bullion is transferred within three business days of the trade date. Bullion receivable or payable at June 30, 2012 and December 31, 2011 is set out below:

	June 30, 2012		December 31, 2011
Bullion receivable	$	—	$	—
Bullion payable	$	4,302,195	$	8,694,716

2.3. Creations and Redemptions of Shares

The Trust expects to create and redeem Shares from time to time, but only in one or more Baskets. The Trust issues Shares in Baskets to Authorized Participants on an ongoing basis. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. An Authorized Participant is a person who (1) is a registered broker-dealer or other securities market participant such as a bank or other financial institution which is not required to register as a broker-dealer to engage in securities transactions, (2) is a participant in The Depository Trust Company, (3) has entered into an Authorized Participant Agreement with the Trustee and the Sponsor, and (4) has established an Authorized Participant Unallocated Account with the Trust’s Custodian or other Bullion clearing bank. An Authorized Participant Agreement is an agreement entered into by each Authorized Participant, the Sponsor and the Trustee which provides the procedures for the creation and redemption of Baskets and for the delivery of the Bullion required for such creations and redemptions. An Authorized Participant Unallocated Account is an unallocated Bullion account, either loco London or loco Zurich, established with the Custodian or a Bullion clearing bank by an Authorized Participant.

The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of Bullion represented by the Baskets being created or redeemed, the amount of which is based on the combined NAV of the number of Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.

Authorized Participants may, on any business day, place an order with the Trustee to create or redeem one or more Baskets. The typical settlement period for Shares is three business days. In the event of a trade date at period end, where a settlement is pending, a respective account receivable and/or payable will be recorded. When Bullion is exchanged in settlement of a redemption, it is considered a sale of Bullion for financial statement purposes.

The amount of bullion represented by the Baskets created or redeemed can only be settled to the nearest 1/1000^th of an ounce. As a result, the value attributed to the creation or redemption of Shares may differ from the value of bullion to be delivered or distributed by the Trust. In order to ensure that the correct metal is available at all times to back the Shares, the Sponsor accepts an adjustment to its management fees in the event of any shortfall or excess. For each transaction, this amount is not more than 1/1000^th of an ounce.

The Shares of the Trust are classified as “Redeemable Shares” for financial statement purposes, since they are subject to redemption at the option of Authorized Participants. Outstanding Shares are reflected at redemption value, which represents the maximum obligation (based on NAV per Share), with the difference from historical cost recorded as an offsetting amount to retained earnings. When Bullion is exchanged in settlement of a redemption, a gain or loss in the amount of the difference between the market value on the trade date and the historical cost is recorded through the Condensed Statement of Operations.

Changes in the Shares for the six months ended June 30, 2012 and for the year ended December 31, 2011 are set out below:

	Six Months Ended June 30, 2012			Year Ended December 31, 2011
Number of redeemable Shares
Opening balance		2,100,000			1,900,000
Creations		50,000			1,450,000
Redemptions		(150,000	)		(1,250,000	)
Closing balance		2,000,000			2,100,000
Redeemable Shares
Opening balance	$	182,586,013		$	166,379,066
Creations		4,726,778			143,112,185
Redemptions		(13,643,436	)		(120,762,519	)
Adjustments to redemption value		(1,584,354	)		(6,142,719	)
Closing balance	$	172,085,001		$	182,586,013
Redemption value per Share at period end	$	86.04		$	86.95

2.4. Revenue Recognition Policy

The primary expense of the Trust is the Sponsor’s Fee, which is paid by the Trust through in-kind transfers of Bullion to the Sponsor. With respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s Bullion as necessary to pay these expenses. When selling Bullion to pay expenses, the Trustee will endeavor to sell the smallest amounts of Bullion needed to pay these expenses in order to minimize the Trust’s holdings of assets other than Bullion.

Unless otherwise directed by the Sponsor, when selling Bullion the Trustee will endeavor to sell at the price established by the London Fix for each metal held by the Trust. The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable price and execution of orders. The Custodian may be the purchaser of such Bullion only if the sale transaction is made at the London Fix for each metal held by the Trust used by the Trustee to value the Trust’s Bullion. A gain or loss is recognized based on the difference between the selling price and the average cost of the Bullion sold. Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale.

2.5. Income Taxes

The Trust is classified as a “grantor trust” for U.S. federal income tax purposes. As a result, the Trust itself will not be subject to U.S. federal income tax. Instead, the Trust’s income and expenses will “flow through” to the Shareholders, and the Trustee will report the Trust’s proceeds, income, deductions, gains, and losses to the Internal Revenue Service on that basis.

The Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of June 30, 2012 and December 31, 2011.

2.6. Investment in Bullion

Changes in ounces of Bullion and the respective values for the six months ended June 30, 2012 and for the year ended December 31, 2011 are set out below:

	Six Months Ended June 30, 2012
	Gold			Silver			Platinum			Palladium			Total
Ounces of Bullion:
Opening balance		65,564.1			2,404,018.4			8,741.9			13,112.8			2,491,437.2
Creations		1,487.3			54,533.4			198.3			297.5			56,516.5
Redemptions (excluding bullion payable at June 30, 2012 -1,484.8, 54,443.8, 197.9 and 297.0, respectively)		(5,952.8	)		(218,270.8	)		(793.7	)		(1,190.6	)		(226,207.9	)
Transfers of Bullion		(191.5	)		(7,021.9	)		(25.5	)		(38.3	)		(7,277.2	)
Closing balance		60,907.1			2,233,259.1			8,121.0			12,181.4			2,314,468.6
Investment in Bullion (lower of cost or market):
Opening balance	$	95,031,713		$	67,745,237		$	12,072,539		$	8,339,760		$	183,189,249
Creations		2,452,885			1,743,432			325,217			205,244			4,726,778
Redemptions (excluding bullion payable at June 30, 2012 - $2,159,242, $1,539,137, $274,627, and $189,252, respectively)*		(8,635,389	)		(6,155,785	)		(1,097,337	)		(757,583	)		(16,646,094	)
Transfers of Bullion		(278,026	)		(198,188	)		(35,337	)		(24,386	)		(535,937	)
Unrealized loss on investment in Bullion		—			(2,658,043	)		—			(722,178	)		(3,380,221	)
Closing balance	$	88,571,183		$	60,476,653		$	11,265,082		$	7,040,857		$	167,353,775

	Year ended December 31, 2011
	Gold			Silver			Platinum			Palladium			Total
Ounces of Bullion:
Opening balance		55,461.9			2,033,601.3			7,395.0			11,092.3			2,107,550.5
Creations		44,859.8			1,644,859.4			5,981.2			8,972.0			1,704,672.4
Redemptions (excluding bullion payable at December 31, 2011 - 2,978.6, 109,213.9, 397.1 and 595.7, respectively)		(34,336.6	)		(1,259,007.4	)		(4,578.2	)		(6,867.3	)		(1,304,789.5	)
Transfers of Bullion		(421.0	)		(15,434.9	)		(56.1	)		(84.2	)		(15,996.2	)
Closing balance		65,564.1			2,404,018.4			8,741.9			13,112.8			2,491,437.2
Investment in Bullion (lower of cost or market):
Opening balance	$	76,213,472		$	54,148,351		$	12,716,653		$	7,566,140		$	150,644,616
Creations		68,061,096			61,734,789			10,720,634			6,974,063			147,490,582
Redemptions (excluding bullion payable at December 31, 2011 - $4,317,263, $3,077,647, $548,453, and $378,873, respectively)*		(48,650,097	)		(38,678,514	)		(8,000,519	)		(4,951,043	)		(100,280,173	)
Transfers of Bullion		(592,758	)		(462,550	)		(97,854	)		(60,298	)		(1,213,460	)
Realized loss on investment in Bullion		—			(8,996,839	)		(3,266,375	)		(1,189,102	)		(13,452,316	)
Closing balance	$	95,031,713		$	67,745,237		$	12,072,539		$	8,339,760		$	183,189,249

*Market value of Bullion payable at December 31, 2011 - $4,689,743, $3,077,647, $548,453 and $378,873, respectively.

Market value of Bullion payable at June 30, 2012 - $2,373,501, $1,474,337, $282,711 and $171,646, respectively.

2.7. Expenses

The Trust will transfer Bullion to the Sponsor to pay the Sponsor’s Fee that will accrue daily at an annualized rate equal to 0.60% of the adjusted net asset value (the “ANAV) of the Trust, paid monthly in arrears.

The Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and out of pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and certain legal expenses.

For the three months ended June 30, 2012 and June 30, 2011 the Sponsor’s Fee was $278,873 and $359,137, respectively. For the six months ended June 30, 2012 and June 30, 2011 the Sponsor’s Fee was $575,661 and $639,485, respectively. At June 30, 2012 and at December 31, 2011, the fees payable to the Sponsor were $86,960 and $107,543, respectively.

2.8.Subsequent Events

In accordance with the provisions set forth in Financial Accounting Standards Board Accounting Standards Codification 855-10, Subsequent Events, the Trust’s management has evaluated the possibility of subsequent events existing in the Trust’s financial statements through the filing date. During this period, no material subsequent events were identified.

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Condensed Statements of Financial Condition (USD $)	Jun. 30, 2012		Dec. 31, 2011
ASSETS
Gold	$ 88,571,183	[1]	$ 95,031,713	[1],[2]
Silver	60,476,653	[1]	67,745,237	[1],[2]
Platinum	11,265,082	[1]	12,072,539	[1],[2]
Palladium	7,040,857	[1]	8,339,760	[1],[2]
	167,353,775	[1]	183,189,249	[1],[2]
Total assets	167,353,775		183,189,249	[2]
LIABILITIES
Fees payable to Sponsor	86,960		107,543	[2]
Bullion payable	4,302,195		8,694,716	[2]
Total liabilities	4,389,155		8,802,259	[2]
REDEEMABLE SHARES AND SHAREHOLDERS’ DEFICIT
Shares at redemption value to investors (2)	172,085,001	[3]	182,586,013	[2],[3]
Shareholders’ deficit	(9,120,381)		(8,199,023)	[2]
Total liabilities, redeemable Shares & shareholders’ deficit	$ 167,353,775		$ 183,189,249	[2]

[1] Bullion is valued at the lower of cost or market value. Refer to Note 2.1 for a breakdown of market value per metal.

[2] Derived from audited Statement of Financial Condition as of December 31, 2011.

[3] Authorized share capital is unlimited with no par value per share. Shares issued and outstanding at June 30, 2012 were 2,000,000 and at December 31, 2011 were 2,100,000.

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Condensed Statement of Changes in Shareholders' Deficit (USD $)	3 Months Ended		6 Months Ended			12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012		Jun. 30, 2011	Dec. 31, 2011
Shareholders’ deficit - opening balance			$ (8,199,023)	[1]
Net loss for the year	(3,411,334)	4,691,816	(2,505,712)		4,861,386
Adjustment of redeembable Shares to redemption value			1,584,354			6,142,719
Shareholders’ deficit - closing balance	$ (9,120,381)		$ (9,120,381)			$ (8,199,023)	[1]

[1] Derived from audited Statement of Financial Condition as of December 31, 2011.

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Organization

6 Months Ended

Jun. 30, 2012

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1. Organization

The ETFS Precious Metals Basket Trust (the “Trust”) is an investment trust formed on October 18, 2010, under New York law pursuant to a depositary trust agreement (the “Trust Agreement”) executed by ETF Securities USA LLC (the “Sponsor”) and the Bank of New York Mellon (the “Trustee”) at the time of the Trust’s organization. The Trust holds gold, silver, platinum and palladium in set ratios (together, “Bullion”) and issues ETFS Physical PM Basket Shares (“Shares”) (in minimum blocks of 50,000 Shares, also referred to as “Baskets”) in exchange for deposits of Bullion and distributes Bullion in connection with the redemption of Baskets. Shares represent units of fractional undivided beneficial interest in and ownership of the Trust which are issued by the Trust. The Sponsor is a Delaware limited liability company and a wholly-owned subsidiary of ETF Securities Limited, a Jersey, Channel Islands based company. The Trust is governed by the Trust Agreement.

The investment objective of the Trust is for the Shares to reflect the performance of the price of gold, silver, platinum and palladium, less the Trust’s expenses and liabilities. The Trust is designed to provide an individual owner of beneficial interests in the Shares (a “Shareholder”) an opportunity to participate in the gold, silver, platinum and palladium market through an investment in securities. The fiscal year end for the Trust is December 31.

The accompanying unaudited condensed financial statements were prepared in accordance with the accounting principles generally accepted in the United States of America for interim financial information and with the instructions for the Form 10-Q. In the opinion of management of the Sponsor, all adjustments (which include normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the three and six months ended June 30, 2012 and for all periods presented have been made.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed financial statements should be read in conjunction with the Trust’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011. The results of operations for the three and six months ended June 30, 2012 are not necessarily indicative of the operating results for the full year.

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Condensed Statements of Financial Condition (Parentheticals)	Jun. 30, 2012	Dec. 31, 2011
Common stock, shares authorized	Unlimited	Unlimited	[1]
Common stock, shares issued	2,000,000	2,100,000	[1]
Common stock, shares outstanding	2,000,000	2,100,000	[1]

[1] Derived from audited Statement of Financial Condition as of December 31, 2011.

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Significant Accounting Policies (Detail) - Schedule of bullion receivable and payable (USD $)	Jun. 30, 2012	Dec. 31, 2011
Bullion receivable	$ 0	$ 0
Bullion payable	$ 4,302,195	$ 8,694,716	[1]

[1] Derived from audited Statement of Financial Condition as of December 31, 2011.

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Document And Entity Information	6 Months Ended
	Jun. 30, 2012	Aug. 07, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	ETFS Precious Metals Basket Trust
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		2,000,000
Amendment Flag	false
Entity Central Index Key	0001483386
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Jun. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2

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Significant Accounting Policies (Detail) - Schedule of Redeemable Capital Shares (USD $)	6 Months Ended		12 Months Ended
	Jun. 30, 2012		Dec. 31, 2011
Number of redeemable Shares
Opening balance (in Shares)	2,100,000	[1]	1,900,000
Creations (in Shares)	50,000		1,450,000
Redemptions (in Shares)	(150,000)		(1,250,000)
Closing balance (in Shares)	2,000,000		2,100,000	[1]
Redeemable Shares
Opening balance	$ 182,586,013	[1],[2]	$ 166,379,066
Creations	4,726,778		143,112,185
Redemptions	(13,643,436)		(120,762,519)
Adjustments to redemption value	(1,584,354)		(6,142,719)
Closing balance	$ 172,085,001	[2]	$ 182,586,013	[1],[2]
Redemption value per Share at period end (in Dollars per share)	$ 86.04		$ 86.95

[1] Derived from audited Statement of Financial Condition as of December 31, 2011.

[2] Authorized share capital is unlimited with no par value per share. Shares issued and outstanding at June 30, 2012 were 2,000,000 and at December 31, 2011 were 2,100,000.

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Condensed Statements of Operations (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
REVENUES
Value of Bullion transferred to pay expenses	$ 292,184	$ 357,721	$ 596,245	$ 602,923
Cost of Bullion transferred to pay expenses	(262,652)	(309,859)	(535,937)	(543,222)
Gain on Bullion transferred to pay expenses	29,532	47,862	60,308	59,701
Gain on Bullion distributed for the redemption of Shares	218,228	5,250,833	1,389,862	5,688,912
Unrealized loss on Bullion	(3,380,221)	(247,742)	(3,380,221)	(247,742)
Total (loss) / gain on Bullion	(3,132,461)	5,050,953	(1,930,051)	5,500,871
EXPENSES
Sponsor’s Fee	278,873	359,137	575,661	639,485
Total expenses	278,873	359,137	575,661	639,485
Net (loss) / gain from operations	$ (3,411,334)	$ 4,691,816	$ (2,505,712)	$ 4,861,386
Net (loss) / gain per Share (in Dollars per share)	$ (1.64)	$ 1.91	$ (1.21)	$ 2.13
Weighted average number of Shares (in Shares)	2,076,374	2,456,044	2,074,451	2,286,740

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Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2012
Valuatio Of Bullion [Policy Text Block]	2.1. Valuation of Bullion Bullion is held by JPMorgan Chase Bank, N.A. (the "Custodian"), on behalf of the Trust, at its London, England vaulting premises on a segregated basis. The allocated Platinum and Palladium is held by UBS AG (the "Zurich Sub-Custodian") at its Zurich, Switzerland vaulting premises on a segregated basis. The Trust's Bullion is valued, per individual metal type, for financial statement purposes, at the lower of cost or market. The cost of Bullion is determined according to the average cost method and the market value is based on the "London Fix" (the applicable fix for each metal of the price of an ounce of such metal and is performed in London, England by fixing members of the London Bullion Market Association ("LBMA") or London Platinum and Palladium Market ("LPPM"), as applicable) for each metal held by the Trust used to determine the net asset value (the "NAV") of the Trust. Realized gains and losses on transfers of Bullion, or Bullion distributed for the redemption of Shares, are calculated on a trade date basis using average cost. Once the value of Bullion has been determined, the NAV is computed by the Trustee by deducting all accrued fees, expenses and other liabilities of the Trust, including the remuneration due to the Sponsor (the "Sponsor's Fee"), from the fair value of the Bullion and all other assets held by the Trust. At December 31, 2011, the market value of silver, platinum and palladium was below average cost, therefore losses of $8,996,839, $3,266,375 and $1,189,102, respectively, were realized on the investment in Bullion. The average costs per ounce of silver, platinum and palladium were reduced to $28.18, $1,381.00 and $636.00 respectively. The table below summarizes the unrealized gains or losses on the Trust's Bullion holdings as of June 30, 2012 and December 31, 2011: June 30, 2012 Gold Silver Platinum Palladium Total Investment in Bullion - average cost $ 88,571,183 $ 63,134,696 $ 11,265,082 $ 7,763,035 $ 170,733,996 Unrealized gain / (loss) on investment in Bullion 8,788,759 (2,658,043 ) 331,622 (722,178 ) 5,740,160 Investment in Bullion - market value $ 97,359,942 $ 60,476,653 $ 11,596,704 $ 7,040,857 $ 176,474,156 December 31, 2011 Investment in Bullion-average cost $ 95,031,713 $ 76,742,076 $ 15,338,914 $ 9,528,862 $ 196,641,565 Realized loss on investment in Bullion - (8,996,839 ) (3,266,375 ) (1,189,102 ) (13,452,316 ) Investment in Bullion - lower of cost or market value $ 95,031,713 $ 67,745,237 $ 12,072,539 $ 8,339,760 $ 183,189,249 Unrealized gain on investment in Bullion 8,199,023 - - - 8,199,023 Investment in Bullion - market value $ 103,230,736 $ 67,745,237 $ 12,072,539 $ 8,339,760 $ 191,388,272 The Trust recognizes the diminution in value of the investment in Bullion which arises from market declines on an interim basis. Increases in the value of the investment in Bullion through market price recoveries in later interim periods of the same fiscal year are recognized in the later interim period. Increases in value recognized on an interim basis may not exceed the previously recognized diminution in value. The per Share amount of Bullion exchanged for a purchase or redemption is calculated daily by the Trustee, using the London Fix for each metal held by the Trust to calculate the Bullion amount in respect of any liabilities for which covering Bullion sales have not yet been made, and represents the per Share amount of Bullion held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred.
Receivable And Payable [Policy Text Block]	2.2. Bullion Receivable and Payable Bullion receivable or payable represents the quantity of Bullion covered by contractually binding orders for the creation or redemption of Shares respectively, where the Bullion has not yet been transferred to or from the Trust's account. Generally, ownership of the Bullion is transferred within three business days of the trade date. Bullion receivable or payable at June 30, 2012 and December 31, 2011 is set out below: June 30, 2012 December 31, 2011 Bullion receivable $ - $ - Bullion payable $ 4,302,195 $ 8,694,716
Creations And Redemptions Of Shares [Policy Text Block]	2.3. Creations and Redemptions of Shares The Trust expects to create and redeem Shares from time to time, but only in one or more Baskets. The Trust issues Shares in Baskets to Authorized Participants on an ongoing basis. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. An Authorized Participant is a person who (1) is a registered broker-dealer or other securities market participant such as a bank or other financial institution which is not required to register as a broker-dealer to engage in securities transactions, (2) is a participant in The Depository Trust Company, (3) has entered into an Authorized Participant Agreement with the Trustee and the Sponsor, and (4) has established an Authorized Participant Unallocated Account with the Trust's Custodian or other Bullion clearing bank. An Authorized Participant Agreement is an agreement entered into by each Authorized Participant, the Sponsor and the Trustee which provides the procedures for the creation and redemption of Baskets and for the delivery of the Bullion required for such creations and redemptions. An Authorized Participant Unallocated Account is an unallocated Bullion account, either loco London or loco Zurich, established with the Custodian or a Bullion clearing bank by an Authorized Participant. The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of Bullion represented by the Baskets being created or redeemed, the amount of which is based on the combined NAV of the number of Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received. Authorized Participants may, on any business day, place an order with the Trustee to create or redeem one or more Baskets. The typical settlement period for Shares is three business days. In the event of a trade date at period end, where a settlement is pending, a respective account receivable and/or payable will be recorded. When Bullion is exchanged in settlement of a redemption, it is considered a sale of Bullion for financial statement purposes. The amount of bullion represented by the Baskets created or redeemed can only be settled to the nearest 1/1000 th of an ounce. As a result, the value attributed to the creation or redemption of Shares may differ from the value of bullion to be delivered or distributed by the Trust. In order to ensure that the correct metal is available at all times to back the Shares, the Sponsor accepts an adjustment to its management fees in the event of any shortfall or excess. For each transaction, this amount is not more than 1/1000 th of an ounce. The Shares of the Trust are classified as "Redeemable Shares" for financial statement purposes, since they are subject to redemption at the option of Authorized Participants. Outstanding Shares are reflected at redemption value, which represents the maximum obligation (based on NAV per Share), with the difference from historical cost recorded as an offsetting amount to retained earnings. When Bullion is exchanged in settlement of a redemption, a gain or loss in the amount of the difference between the market value on the trade date and the historical cost is recorded through the Condensed Statement of Operations. Changes in the Shares for the six months ended June 30, 2012 and for the year ended December 31, 2011 are set out below: Six MonthsEndedJune 30, 2012 YearEndedDecember 31, 2011 Number of redeemable Shares Opening balance 2,100,000 1,900,000 Creations 50,000 1,450,000 Redemptions (150,000 ) (1,250,000 ) Closing balance 2,000,000 2,100,000 Redeemable Shares Opening balance $ 182,586,013 $ 166,379,066 Creations 4,726,778 143,112,185 Redemptions (13,643,436 ) (120,762,519 ) Adjustments to redemption value (1,584,354 ) (6,142,719 ) Closing balance $ 172,085,001 $ 182,586,013 Redemption value per Share at period end $ 86.04 $ 86.95
Revenue Recognition, Policy [Policy Text Block]	2.4. Revenue Recognition Policy The primary expense of the Trust is the Sponsor's Fee, which is paid by the Trust through in-kind transfers of Bullion to the Sponsor. With respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust's Bullion as necessary to pay these expenses. When selling Bullion to pay expenses, the Trustee will endeavor to sell the smallest amounts of Bullion needed to pay these expenses in order to minimize the Trust's holdings of assets other than Bullion. Unless otherwise directed by the Sponsor, when selling Bullion the Trustee will endeavor to sell at the price established by the London Fix for each metal held by the Trust. The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable price and execution of orders. The Custodian may be the purchaser of such Bullion only if the sale transaction is made at the London Fix for each metal held by the Trust used by the Trustee to value the Trust's Bullion. A gain or loss is recognized based on the difference between the selling price and the average cost of the Bullion sold. Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale.
Income Tax, Policy [Policy Text Block]	2.5. Income Taxes The Trust is classified as a "grantor trust" for U.S. federal income tax purposes. As a result, the Trust itself will not be subject to U.S. federal income tax. Instead, the Trust's income and expenses will "flow through" to the Shareholders, and the Trustee will report the Trust's proceeds, income, deductions, gains, and losses to the Internal Revenue Service on that basis. The Sponsor has evaluated whether or not there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of June 30, 2012 and December 31, 2011.
Investment, Policy [Policy Text Block]	2.6. Investment in Bullion Changes in ounces of Bullion and the respective values for the six months ended June 30, 2012 and for the year ended December 31, 2011 are set out below: Six Months Ended June 30, 2012 Gold Silver Platinum Palladium Total Ounces of Bullion: Opening balance 65,564.1 2,404,018.4 8,741.9 13,112.8 2,491,437.2 Creations 1,487.3 54,533.4 198.3 297.5 56,516.5 Redemptions (excluding bullion payable at June 30, 2012 -1,484.8, 54,443.8, 197.9 and 297.0, respectively) (5,952.8 ) (218,270.8 ) (793.7 ) (1,190.6 ) (226,207.9 ) Transfers of Bullion (191.5 ) (7,021.9 ) (25.5 ) (38.3 ) (7,277.2 ) Closing balance 60,907.1 2,233,259.1 8,121.0 12,181.4 2,314,468.6 Investment in Bullion (lower of cost or market): Opening balance $ 95,031,713 $ 67,745,237 $ 12,072,539 $ 8,339,760 $ 183,189,249 Creations 2,452,885 1,743,432 325,217 205,244 4,726,778 Redemptions (excluding bullion payable at June 30, 2012 - $2,159,242, $1,539,137, $274,627, and $189,252, respectively)* (8,635,389 ) (6,155,785 ) (1,097,337 ) (757,583 ) (16,646,094 ) Transfers of Bullion (278,026 ) (198,188 ) (35,337 ) (24,386 ) (535,937 ) Unrealized loss on investment in Bullion - (2,658,043 ) - (722,178 ) (3,380,221 ) Closing balance $ 88,571,183 $ 60,476,653 $ 11,265,082 $ 7,040,857 $ 167,353,775 Year ended December 31, 2011 Gold Silver Platinum Palladium Total Ounces of Bullion: Opening balance 55,461.9 2,033,601.3 7,395.0 11,092.3 2,107,550.5 Creations 44,859.8 1,644,859.4 5,981.2 8,972.0 1,704,672.4 Redemptions (excluding bullion payable at December 31, 2011 - 2,978.6, 109,213.9, 397.1 and 595.7, respectively) (34,336.6 ) (1,259,007.4 ) (4,578.2 ) (6,867.3 ) (1,304,789.5 ) Transfers of Bullion (421.0 ) (15,434.9 ) (56.1 ) (84.2 ) (15,996.2 ) Closing balance 65,564.1 2,404,018.4 8,741.9 13,112.8 2,491,437.2 Investment in Bullion (lower of cost or market): Opening balance $ 76,213,472 $ 54,148,351 $ 12,716,653 $ 7,566,140 $ 150,644,616 Creations 68,061,096 61,734,789 10,720,634 6,974,063 147,490,582 Redemptions (excluding bullion payable at December 31, 2011 - $4,317,263, $3,077,647, $548,453, and $378,873, respectively)* (48,650,097 ) (38,678,514 ) (8,000,519 ) (4,951,043 ) (100,280,173 ) Transfers of Bullion (592,758 ) (462,550 ) (97,854 ) (60,298 ) (1,213,460 ) Realized loss on investment in Bullion - (8,996,839 ) (3,266,375 ) (1,189,102 ) (13,452,316 ) Closing balance $ 95,031,713 $ 67,745,237 $ 12,072,539 $ 8,339,760 $ 183,189,249 *Market value of Bullion payable at December 31, 2011 - $4,689,743, $3,077,647, $548,453 and $378,873, respectively . Market value of Bullion payable at June 30, 2012 - $2,373,501, $1,474,337, $282,711 and $171,646, respectively .
Expenses [Policy Text Block]	2.7. Expenses The Trust will transfer Bullion to the Sponsor to pay the Sponsor's Fee that will accrue daily at an annualized rate equal to 0.60% of the adjusted net asset value (the "ANAV) of the Trust, paid monthly in arrears. The Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee's monthly fee and out of pocket expenses, the Custodian's fee and the reimbursement of the Custodian's expenses, exchange listing fees, United States Securities and Exchange Commission (the "SEC") registration fees, printing and mailing costs, audit fees and certain legal expenses. For the three months ended June 30, 2012 and June 30, 2011 the Sponsor's Fee was $278,873 and $359,137, respectively. For the six months ended June 30, 2012 and June 30, 2011 the Sponsor's Fee was $575,661 and $639,485, respectively. At June 30, 2012 and at December 31, 2011, the fees payable to the Sponsor were $86,960 and $107,543, respectively.
Subsequent Events, Policy [Policy Text Block]	2.8. Subsequent Events In accordance with the provisions set forth in Financial Accounting Standards Board Accounting Standards Codification 855-10, Subsequent Events , the Trust's management has evaluated the possibility of subsequent events existing in the Trust's financial statements through the filing date. During this period, no material subsequent events were identified.

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Indemnification

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies Disclosure [Text Block]

5. Indemnification

Under the Trust’s organizational documents, the Trustee (and its directors, employees and agents) and the Sponsor (and its members, managers, directors, officers, employees and affiliates) is indemnified by the Trust against any liability, cost or expense it incurs without gross negligence, bad faith or willful misconduct on its part and without reckless disregard on its part of its obligations and duties under the Trust’s organizational documents. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

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Significant Accounting Policies (Detail) - Schedule of Investment in Bullion (USD $)	3 Months Ended			6 Months Ended			12 Months Ended
	Jun. 30, 2012 oz		Jun. 30, 2011	Jun. 30, 2012 oz		Jun. 30, 2011 oz	Dec. 31, 2011 oz
Ounces of Bullion:
Opening balance (in Ounces)				2,491,437.2		2,107,550.5	2,107,550.5
Creations (in Ounces)				56,516.5			1,704,672.4
Redemptions (in Ounces)				(226,207.9)	[1]		(1,304,789.5)
Transfers of Bullion (in Ounces)				(7,277.2)			(15,996.2)
Closing balance (in Ounces)	2,314,468.6			2,314,468.6			2,491,437.2
Investment in Bullion (lower of cost or market):
Opening balance				$ 183,189,249	[2],[3]	$ 150,644,616	$ 150,644,616
Creations	0		50,640,859	4,726,778		104,271,834	147,490,582
Redemptions				(16,646,094)			(100,280,173)	[4]
Transfers of Bullion	(262,652)		(309,859)	(535,937)		(543,222)	(1,213,460)
Realized loss on investment in Bullion							(13,452,316)
Unrealized loss on investment in Bullion	(3,380,221)		(247,742)	(3,380,221)		(247,742)
Closing balance	167,353,775	[2]		167,353,775	[2]		183,189,249	[2],[3]
Gold [Member]
Ounces of Bullion:
Opening balance (in Ounces)				65,564.1		55,461.9	55,461.9
Creations (in Ounces)				1,487.3			44,859.8
Redemptions (in Ounces)				(5,952.8)	[1]		(34,336.6)
Transfers of Bullion (in Ounces)				(191.5)			(421.0)
Closing balance (in Ounces)	60,907.1			60,907.1			65,564.1
Investment in Bullion (lower of cost or market):
Opening balance				95,031,713		76,213,472	76,213,472
Creations				2,452,885			68,061,096
Redemptions				(8,635,389)			(48,650,097)	[4]
Transfers of Bullion				(278,026)			(592,758)
Realized loss on investment in Bullion							0
Unrealized loss on investment in Bullion				0
Closing balance	88,571,183			88,571,183			95,031,713
Silver [Member]
Ounces of Bullion:
Opening balance (in Ounces)				2,404,018.4		2,033,601.3	2,033,601.3
Creations (in Ounces)				54,533.4			1,644,859.4
Redemptions (in Ounces)				(218,270.8)	[1]		(1,259,007.4)
Transfers of Bullion (in Ounces)				(7,021.9)			(15,434.9)
Closing balance (in Ounces)	2,233,259.1			2,233,259.1			2,404,018.4
Investment in Bullion (lower of cost or market):
Opening balance				67,745,237		54,148,351	54,148,351
Creations				1,743,432			61,734,789
Redemptions				(6,155,785)			(38,678,514)	[4]
Transfers of Bullion				(198,188)			(462,550)
Realized loss on investment in Bullion							(8,996,839)
Unrealized loss on investment in Bullion				(2,658,043)
Closing balance	60,476,653			60,476,653			67,745,237
Platinum [Member]
Ounces of Bullion:
Opening balance (in Ounces)				8,741.9		7,395.0	7,395.0
Creations (in Ounces)				198.3			5,981.2
Redemptions (in Ounces)				(793.7)	[1]		(4,578.2)
Transfers of Bullion (in Ounces)				(25.5)			(56.1)
Closing balance (in Ounces)	8,121.0			8,121.0			8,741.9
Investment in Bullion (lower of cost or market):
Opening balance				12,072,539		12,716,653	12,716,653
Creations				325,217			10,720,634
Redemptions				(1,097,337)			(8,000,519)	[4]
Transfers of Bullion				(35,337)			(97,854)
Realized loss on investment in Bullion							(3,266,375)
Unrealized loss on investment in Bullion				0
Closing balance	11,265,082			11,265,082			12,072,539
Palladium [Member]
Ounces of Bullion:
Opening balance (in Ounces)				13,112.8		11,092.3	11,092.3
Creations (in Ounces)				297.5			8,972.0
Redemptions (in Ounces)				(1,190.6)	[1]		(6,867.3)
Transfers of Bullion (in Ounces)				(38.3)			(84.2)
Closing balance (in Ounces)	12,181.4			12,181.4			13,112.8
Investment in Bullion (lower of cost or market):
Opening balance				8,339,760		7,566,140	7,566,140
Creations				205,244			6,974,063
Redemptions				(757,583)			(4,951,043)	[4]
Transfers of Bullion				(24,386)			(60,298)
Realized loss on investment in Bullion							(1,189,102)
Unrealized loss on investment in Bullion				(722,178)
Closing balance	$ 7,040,857			$ 7,040,857			$ 8,339,760

[1] Market value of Bullion payable at December 31, 2011 - $4,689,743, $3,077,647, $548,453 and $378,873, respectively.

[2] Bullion is valued at the lower of cost or market value. Refer to Note 2.1 for a breakdown of market value per metal.

[3] Derived from audited Statement of Financial Condition as of December 31, 2011.

[4] Market value of Bullion payable at June 30, 2012 - $2,373,501, $1,474,337, $282,711 and $171,646, respectively.

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Significant Accounting Policies (Detail) (USD $)	3 Months Ended		6 Months Ended				12 Months Ended		12 Months Ended		12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011		Dec. 31, 2011 Silver [Member]	Jun. 30, 2012 Silver [Member]	Dec. 31, 2011 Platinum [Member]	Jun. 30, 2012 Platinum [Member]	Dec. 31, 2011 Palladium [Member]	Jun. 30, 2012 Palladium [Member]	Jun. 30, 2012 Gold [Member]	Dec. 31, 2011 Gold [Member]
Bullion Cost Reduced (in Dollars per Item)							28.18		1,381.00		636.00
	$ 4,302,195		$ 4,302,195		$ 8,694,716	[1]	$ 3,077,647	$ 1,474,337	$ 548,453	$ 282,711	$ 378,873	$ 171,646	$ 2,373,501	$ 4,689,743
Annualized Rate Of Sponsors Fee			0.60%
Sponsor Fees	278,873	359,137	575,661	639,485
Accounts Payable, Related Parties, Current	$ 86,960		$ 86,960		$ 107,543	[1]

[1] Derived from audited Statement of Financial Condition as of December 31, 2011.

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Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2012

Valuation Of Bullion [Table Text Block]

The table below summarizes the unrealized gains or losses on the Trust’s Bullion holdings as of June 30, 2012 and December 31, 2011:

	June 30, 2012
	Gold		Silver			Platinum		Palladium			Total
Investment in Bullion - average cost	$	88,571,183	$	63,134,696		$	11,265,082	$	7,763,035		$	170,733,996
Unrealized gain / (loss) on investment in Bullion		8,788,759		(2,658,043	)		331,622		(722,178	)		5,740,160
Investment in Bullion - market value	$	97,359,942	$	60,476,653		$	11,596,704	$	7,040,857		$	176,474,156

	December 31, 2011
Investment in Bullion-average cost	$	95,031,713	$	76,742,076		$	15,338,914		$	9,528,862		$	196,641,565
Realized loss on investment in Bullion		—		(8,996,839	)		(3,266,375	)		(1,189,102	)		(13,452,316	)
Investment in Bullion - lower of cost or market value	$	95,031,713	$	67,745,237		$	12,072,539		$	8,339,760		$	183,189,249
Unrealized gain on investment in Bullion		8,199,023		—			—			—			8,199,023
Investment in Bullion - market value	$	103,230,736	$	67,745,237		$	12,072,539		$	8,339,760		$	191,388,272

Bullion Receivable And Payable [Table Text Block]

Bullion receivable or payable at June 30, 2012 and December 31, 2011 is set out below:

	June 30, 2012		December 31, 2011
Bullion receivable	$	—	$	—
Bullion payable	$	4,302,195	$	8,694,716

Schedule of Stock by Class [Table Text Block]

Changes in the Shares for the six months ended June 30, 2012 and for the year ended December 31, 2011 are set out below:

	Six Months Ended June 30, 2012			Year Ended December 31, 2011
Number of redeemable Shares
Opening balance		2,100,000			1,900,000
Creations		50,000			1,450,000
Redemptions		(150,000	)		(1,250,000	)
Closing balance		2,000,000			2,100,000
Redeemable Shares
Opening balance	$	182,586,013		$	166,379,066
Creations		4,726,778			143,112,185
Redemptions		(13,643,436	)		(120,762,519	)
Adjustments to redemption value		(1,584,354	)		(6,142,719	)
Closing balance	$	172,085,001		$	182,586,013
Redemption value per Share at period end	$	86.04		$	86.95

Investments In Bullion [Table Text Block]

Changes in ounces of Bullion and the respective values for the six months ended June 30, 2012 and for the year ended December 31, 2011 are set out below:

	Six Months Ended June 30, 2012
	Gold			Silver			Platinum			Palladium			Total
Ounces of Bullion:
Opening balance		65,564.1			2,404,018.4			8,741.9			13,112.8			2,491,437.2
Creations		1,487.3			54,533.4			198.3			297.5			56,516.5
Redemptions (excluding bullion payable at June 30, 2012 -1,484.8, 54,443.8, 197.9 and 297.0, respectively)		(5,952.8	)		(218,270.8	)		(793.7	)		(1,190.6	)		(226,207.9	)
Transfers of Bullion		(191.5	)		(7,021.9	)		(25.5	)		(38.3	)		(7,277.2	)
Closing balance		60,907.1			2,233,259.1			8,121.0			12,181.4			2,314,468.6
Investment in Bullion (lower of cost or market):
Opening balance	$	95,031,713		$	67,745,237		$	12,072,539		$	8,339,760		$	183,189,249
Creations		2,452,885			1,743,432			325,217			205,244			4,726,778
Redemptions (excluding bullion payable at June 30, 2012 - $2,159,242, $1,539,137, $274,627, and $189,252, respectively)*		(8,635,389	)		(6,155,785	)		(1,097,337	)		(757,583	)		(16,646,094	)
Transfers of Bullion		(278,026	)		(198,188	)		(35,337	)		(24,386	)		(535,937	)
Unrealized loss on investment in Bullion		—			(2,658,043	)		—			(722,178	)		(3,380,221	)
Closing balance	$	88,571,183		$	60,476,653		$	11,265,082		$	7,040,857		$	167,353,775

	Year ended December 31, 2011
	Gold			Silver			Platinum			Palladium			Total
Ounces of Bullion:
Opening balance		55,461.9			2,033,601.3			7,395.0			11,092.3			2,107,550.5
Creations		44,859.8			1,644,859.4			5,981.2			8,972.0			1,704,672.4
Redemptions (excluding bullion payable at December 31, 2011 - 2,978.6, 109,213.9, 397.1 and 595.7, respectively)		(34,336.6	)		(1,259,007.4	)		(4,578.2	)		(6,867.3	)		(1,304,789.5	)
Transfers of Bullion		(421.0	)		(15,434.9	)		(56.1	)		(84.2	)		(15,996.2	)
Closing balance		65,564.1			2,404,018.4			8,741.9			13,112.8			2,491,437.2
Investment in Bullion (lower of cost or market):
Opening balance	$	76,213,472		$	54,148,351		$	12,716,653		$	7,566,140		$	150,644,616
Creations		68,061,096			61,734,789			10,720,634			6,974,063			147,490,582
Redemptions (excluding bullion payable at December 31, 2011 - $4,317,263, $3,077,647, $548,453, and $378,873, respectively)*		(48,650,097	)		(38,678,514	)		(8,000,519	)		(4,951,043	)		(100,280,173	)
Transfers of Bullion		(592,758	)		(462,550	)		(97,854	)		(60,298	)		(1,213,460	)
Realized loss on investment in Bullion		—			(8,996,839	)		(3,266,375	)		(1,189,102	)		(13,452,316	)
Closing balance	$	95,031,713		$	67,745,237		$	12,072,539		$	8,339,760		$	183,189,249

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Organization (Detail)	6 Months Ended
	Jun. 30, 2012
Minimum Block Of Shares Issued Redeemed Against Bullion	50,000

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Significant Accounting Policies (Detail) - Schedule of unrealized gains or losses on the Trust's bullion holdings (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Investment in Bullion - average cost	$ 170,733,996	$ 196,641,565
Realized loss on investment in Bullion		(13,452,316)
Investment in Bullion - lower of cost or market value		183,189,249
Unrealized gain / (loss) on investment in Bullion	5,740,160	8,199,023
Investment in Bullion - market value	176,474,156	191,388,272
Gold [Member]
Investment in Bullion - average cost	88,571,183	95,031,713
Realized loss on investment in Bullion		0
Investment in Bullion - lower of cost or market value		95,031,713
Unrealized gain / (loss) on investment in Bullion	8,788,759	8,199,023
Investment in Bullion - market value	97,359,942	103,230,736
Silver [Member]
Investment in Bullion - average cost	63,134,696	76,742,076
Realized loss on investment in Bullion		(8,996,839)
Investment in Bullion - lower of cost or market value		67,745,237
Unrealized gain / (loss) on investment in Bullion	(2,658,043)	0
Investment in Bullion - market value	60,476,653	67,745,237
Platinum [Member]
Investment in Bullion - average cost	11,265,082	15,338,914
Realized loss on investment in Bullion		(3,266,375)
Investment in Bullion - lower of cost or market value		12,072,539
Unrealized gain / (loss) on investment in Bullion	331,622	0
Investment in Bullion - market value	11,596,704	12,072,539
Palladium [Member]
Investment in Bullion - average cost	7,763,035	9,528,862
Realized loss on investment in Bullion		(1,189,102)
Investment in Bullion - lower of cost or market value		8,339,760
Unrealized gain / (loss) on investment in Bullion	(722,178)	0
Investment in Bullion - market value	$ 7,040,857	$ 8,339,760

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Condensed Statements of Cash Flows (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
INCREASE / (DECREASE) IN CASH FROM OPERATIONS:
Cash proceeds received from transfer of Bullion	$ 0	$ 0	$ 0	$ 0
Cash expenses paid	0	0	0	0
Increase in cash resulting from operations	0	0	0	0
Cash and cash equivalents at beginning of period	0	0	0	0	0
Cash and cash equivalents at end of period	0	0	0	0	0
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:
Value of Bullion received for creation of Shares	0	50,640,859	4,726,778	104,271,834	147,490,582
Value of Bullion distributed for redemption of Shares - at average cost	4,164,927	34,410,768	16,646,094	42,627,019
RECONCILIATION OF NET (LOSS) / GAIN TO NET CASH PROVIDED BY OPERATING ACTIVITIES:
Net (loss) / gain from operations	(3,411,334)	4,691,816	(2,505,712)	4,861,386
Adjustments to reconcile net (loss) / gain to net cash provided by operating activities:
Decrease / (increase) in Bullion assets	7,807,802	(15,672,491)	15,835,474	(60,853,851)
Decrease in Bullion receivable	0	4,813,115	0	4,378,396
Increase / (decrease) in Bullion payable	4,302,195	0	(4,392,521)	0
(Increase) / decrease in amounts payable to Sponsor	(13,309)	1,422	(20,583)	36,568
Increase / (decrease) in redeemable Shares:
Creations	0	45,827,741	4,726,778	99,893,433
Redemptions	(8,685,354)	(39,661,603)	(13,643,436)	(48,315,932)
Net cash provided by operating activities	0	0	0	0
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Value of Bullion transferred to pay expenses	$ 292,184	$ 357,721	$ 596,245	$ 602,923

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Concentration of Risk

6 Months Ended

Jun. 30, 2012

Concentration Risk Disclosure [Text Block]

4. Concentration of Risk

The Trust’s sole business activity is the investment in Bullion, and substantially all the Trust’s assets are holdings of Bullion which creates a concentration risk associated with fluctuations in the price of Bullion. Several factors could affect the price of Bullion, including: (i) global Bullion supply and demand, which is influenced by factors such as forward selling by Bullion producers, purchases made by Bullion producers to unwind Bullion hedge positions, central bank purchases and sales, and production and cost levels in major Bullion-producing countries; (ii) investors’ expectations with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates; (v) investment and trading activities of hedge funds and commodity funds; and (vi) global or regional political, economic or financial events and situations. In addition, there is no assurance that Bullion will maintain its long-term value in terms of purchasing power in the future. In the event that the price of Bullion declines, the Sponsor expects the value of an investment in the Shares to decline proportionately. Each of these events could have a material effect on the Trust’s financial position and results of operations.

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Significant Accounting Policies (Detail) - Schedule of Investment in Bullion (Parentheticals) (USD $)	Jun. 30, 2012 oz		Dec. 31, 2011 oz
Gold [Member]
Bullion Payable Ounces Of Bullion	1,484.8	[1]	2,978.6
Bullion Payable (in Dollars)	$ 2,159,242		$ 4,317,263	[2]
Silver [Member]
Bullion Payable Ounces Of Bullion	54,443.8	[1]	109,213.9
Bullion Payable (in Dollars)	1,539,137		3,077,647	[2]
Platinum [Member]
Bullion Payable Ounces Of Bullion	197.9	[1]	397.1
Bullion Payable (in Dollars)	274,627		548,453	[2]
Palladium [Member]
Bullion Payable Ounces Of Bullion	297.0	[1]	595.7
Bullion Payable (in Dollars)	$ 189,252		$ 378,873	[2]

[1] Market value of Bullion payable at December 31, 2011 - $4,689,743, $3,077,647, $548,453 and $378,873, respectively.

[2] Market value of Bullion payable at June 30, 2012 - $2,373,501, $1,474,337, $282,711 and $171,646, respectively.