Platinum ETF PPLT tops 100% return in a year, now downgraded to Hold due to high price levels.

The Aberdeen Standard Physical Platinum Shares ETF (PPLT) delivered over 100% total return in the past year as platinum prices caught up with gold and silver. After this strong performance, analysts have downgraded PPLT to a 'Hold' rating, citing that its current price no longer offers an attractive entry point for investors. Going forward, platinum's performance will depend more on inflation and interest rate trends rather than undervaluation. Investors should also consider structural factors such as the physical backing of the ETF and supply risks, particularly from South Africa, which remain important for PPLT's outlook.