A physically backed, metals-based ETF that has been quite volatile in recent weeks is ETFS Physical Platinum Shares (NYSEArca: PPLT). Having risen 16% from its early October low to peak at $165.20 a share early last week, the exchange traded fund has faltered over the past four sessions and is seemingly falling in sympathy with other precious metals including gold and silver.

PPLT closed below its 50 day moving average yesterday and is well below its 200 day moving average of $173.05 a share.

This is in contrast to SPDR Gold Shares (NYSEArca: GLD) which despite recent weakness, still hovers above its 50 day moving average and is well above its 200 day level.

PPLT is not the only way to play Platinum in the ETF/ETN space currently. E-TRACS UBS Bloomberg Long Platinum ETN (NYSEArca: PTM) and iPath Dow Jones AIG Platinum TR Sub-Index ETN (NYSEArca: PGM) are two alternatives on the exchange traded note side that give the investor exposure to spot platinum prices. [Platinum ETFs]

UBS E-TRACS CMCI Short Platinum Excess Return ETN (NYSEArca: PTD) tracks the inverse price movement of platinum for those looking for short exposure to the metal.