ZPLA.SW is trading at CHF 431.30 (-4.94%), primarily pressured by the World Platinum Investment Council’s revised 2026 outlook from a 297,000-ounce deficit to a 265,000-ounce surplus. - The revision mainly reflected weaker investment demand and softer Chinese jewelry demand. - WPIC also reported ETF outflows and a second-quarter surplus, pressuring platinum-linked funds. - Hotter U.S. wholesale inflation, higher yields, and geopolitical oil-price pressure may have amplified the decline, but the move appears principally platinum-sector-specific.