🔴 Platinum ETF (ZPLA.SW) is trading 4.42% down as outflows and surplus outlook pressure platinum

ZPLA.SW is trading at CHF 360.10, down 4.42%, as investment outflows and a weaker demand outlook weigh on platinum.

• The 2026 market is forecast to show a 265,000-ounce surplus, with ETF outflows contributing to the outlook.
• Elevated rates and expectations of possible further tightening add pressure on non-yielding platinum; a stronger dollar is also a headwind.
• Broad risk-off trading may add pressure, but evidence points primarily to platinum-specific fundamentals and macro conditions.