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Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2012
Valuation Of Palladium [Table Text Block] The table below summarizes the unrealized gains on the Trust’s palladium holdings as of June 30, 2012 and December 31, 2011:

 

 

 

 

 

 

 

 

 

 

June 30,
2012

 

December 31,
2011

 

 

 

 

 

 

 

 

 

Investment in palladium-average cost

 

$

516,415,919

 

$

351,083,261

 

Unrealized (loss) / gain on investment in palladium

 

 

(37,846,898

)

 

23,047,309

 

 

 

 

 

Investment in palladium-market value

 

$

478,569,021

 

$

374,130,570

 

 

 

 

 

Palladium Receivable And Payable [Table Text Block] Palladium receivable or payable at June 30, 2012 and December 31, 2011 is set out below:

 

 

 

 

 

 

 

 

 

 

June 30, 2012

 

December 31, 2011

 

 

 

 

 

 

 

 

 

Palladium receivable

 

$

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Palladium payable

 

$

11,389,069

 

$

—

 

 

 

 

 

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

 

 

5,950,000

 

 

11,250,000

 

Creations

 

 

2,550,000

 

 

2,100,000

 

Redemptions

 

 

(300,000

)

 

(7,400,000

)

 

 

 

 

Closing balance

 

 

8,200,000

 

 

5,950,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Redeemable Shares

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Opening balance

 

$

373,935,765

 

$

884,637,847

 

Creations

 

 

172,802,404

 

 

167,166,365

 

Redemptions

 

 

(17,382,221

)

 

(520,261,660

)

Adjustment to redemption value

 

 

(62,411,820

)

 

(157,606,787

)

 

 

 

 

Closing balance

 

$

466,944,128

 

$

373,935,765

 

 

 

 

 

 

 

 

 

 

 

 

 

Redemption value per Share at period end

 

$

56.94

 

$

62.85

 

Investments In Palladium [Table Text Block] Changes in ounces of palladium 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

 

Year
Ended
December 31, 2011

 

Ounces of palladium:

 

 

 

 

 

 

 

Opening balance

 

 

588,255.6

 

 

1,089,108.1

 

Creations

 

 

251,724.7

 

 

238,310.9

 

Redemptions (excluding palladium payable at June 30, 2012 - 19,704.3 and at December 31, 2011 - 0, respectively)

 

 

(9,857.2

)

 

(733,279.8

)

Transfers of palladium

 

 

(2,149.0

)

 

(5,883.6

)

 

 

 

 

Closing balance

 

 

827,974.1

 

 

588,255.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment in palladium (lower of cost or market):

 

 

 

 

 

 

 

Opening balance

 

$

351,083,261

 

$

597,199,695

 

Creations

 

 

172,802,396

 

 

190,757,226

 

Redemptions (excluding palladium payable at June 30, 2012 - $11,389,069* and at December 31, 2011 - $0, respectively)

 

 

(6,148,010

)

 

(433,431,257.0

)

Transfers of palladium

 

 

(1,321,728

)

 

(3,442,403

)

Unrealized loss on investment in palladium

 

 

(37,846,898

)

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Closing balance

 

$

478,569,021

 

$

351,083,261