🔴 Platinum ETF (ZPLA.SW) is trading 3.42% down as oil-driven inflation concerns pressure platinum

ZPLA.SW is trading at CHF 383.00, down 3.42%, as platinum’s decline weighs directly on the physical-platinum ETF.

• On October 22, platinum fell 2.38% amid rising oil-driven inflation concerns and tighter-policy prospects, which can weigh on non-yielding metals.
• A projected 265,000-ounce 2026 surplus, softer investment and jewelry demand, and weaker automotive demand add pressure.
• Renewed Middle East tensions lifted oil prices, adding broader risk aversion; the ETF holds physical platinum, making platinum’s decline its direct driver.