Rhodium is on Fire - what’s up

[jonrms]

I would be watching it, if you bought it at £800 than now more than ever is the time to consider selling.

Pampfan, I know you love them but historically see 2008 I think.... it went through this same phase.

only 2 mints make Rhodium

Pamp and Baird and Co.

Have fun and good luck...

[FoolzGold]

A question for Pampfan (as official forum cheerleader for rhodium 😉) - As I understand it, back in around 2005 to 2008 rhodium climbed rapidly from around $1,000 to highs of close to $10,000/oz. This made it economically nonviable for catalytic convertor use, causing manufacturers to switch to less efficient but much cheaper alternatives such as platinum and palladium and leading to the price of rhodium collapsing back to around $1,000 over a very short period of time.
Now over the last 3 to 4 years the price of rhodium has climbed again, following much the same curve as it did before, and looks to be heading for a similar level of close to, or perhaps beyond, $10,000/oz.
While there's probably still some upside to be had right now as the price continues to climb, is there any reason to think that the end result will be different this time to 2008? Why would manufacturers stick with rhodium at $10,000+/oz when they could switch to platinum at under $1,000? Has something changed significantly in the last 10 years?

[8phwt]

55 minutes ago, FoolzGold said:

As I understand it, back in around 2005 to 2008 rhodium climbed rapidly from around $1,000 to highs of close to $10,000/oz. This made it economically nonviable for catalytic convertor use, causing manufacturers to switch to less efficient but much cheaper alternatives such as platinum and palladium...

There was the "great recession". People stop buying cars, car manufacturers stop buying Rhodium.

Obviously, car manufacturers were happier in a time of less stringent regulations and cheaper expenses.

Peak Rhodium prices would undoubtedly have been a primary concern for our shadowy "Dieselgate Conspirators"

Diselgate in brief : "Somebody" wrote a computer program to lie / fool engine emission tests.

Who needed Rhodium when you've got a computer that saying "everything is fine"?

The story leaks, we learn everything wasn't fine - and car manufacturers have been unable to dodge using Rhodium ever since.

Cue bull market.

56 minutes ago, FoolzGold said:

Has something changed significantly in the last 10 years?

Chemistry hasn't. Platinum cannot do the job Rhodium does in a catalytic convertor.

You can't swap Platinum for Rhodium.

 

[Pampfan]

The question on selling is a good one - when is the time to sell? I don’t have a good answer for it! 
 

I will need to think about it.🤔🤔

[8phwt]

4 minutes ago, Pampfan said:

The question on selling is a good one - when is the time to sell? I don’t have a good answer for it! 
 

I will need to think about it.🤔🤔

If you can time your sale just before the next recession hits, or electric vehicle consumption / alternative technology overtakes the combustion engine vehicles, that would be a good time

I'm trying to research what Rhodium is doing in touchscreens... Apparently its being used in the glass coatings for iphones and touchscreens. I had no idea, so I'm really interested to learn how its used...

[FoolzGold]

Thanks for the answers people. I hadn't fully understood the roles of the different PGMs in catalytic convertors.

[FoolzGold]

17 hours ago, zhoutonged said:

I will show my hand FG, I bought 5oz at the bottom meaning to get 10 but the market just kept moving away from me. I chopped in two ounces just before Christmas and I'm thinking of selling a further ounce to put into Pt. However Im keeping the other 2 back for a proper spike. If you want to buy an ounce for spot "offer" let me know otherwise a good way to get exposure might be a rhodium ETF which deutsche bank offer. Rhodium sort of reminds me of bitcoin back in the day, not a lot to go round and big moves when buyers appear. Buyers are the motor trade BTW. Other uses include bullion, plating white gold and I believe electronics to a small extent, however it's as a catalyst where this rare as rocking horse chit metal gets its value.

I think I'd be taking a similar approach if I'd had 5oz of Rh - selling some at these high levels but holding a little back for possible continuing climbs. I certainly don't think I'd hold onto it all - just too much risk of missing out before an eventual drop.

At this point I still find Platinum tempting. It's never going to reach Rh levels clearly, but it seems to me that it could surge to Pd levels eventually (close to doubling its current level). Probably just wishful thinking on my part.

[lamyat2005]

Hi there, I have several ounces of rhodium bought last year. Where should I sell them?

[Pampfan]

On 16/01/2020 at 04:54, lamyat2005 said:

Hi there, I have several ounces of rhodium bought last year. Where should I sell them?

I would think at your areas biggest precious metal dealer.

[Pampfan]

Rhodium just hit $9,000 an ounce. 

why can’t gold do this? 😢

[8phwt]

17 minutes ago, Pampfan said:

Rhodium just hit $9,000 an ounce. 

why can’t gold do this? 😢

no laws requiring a compulsory gold purchase every time a new car is born.

 

[goldking]

47 minutes ago, Pampfan said:

Rhodium just hit $9,000 an ounce. 

why can’t gold do this? 😢

If gold ever reaches $9k the world would be in a really bad way.

[Pampfan]

Rhodium is now within reach of $10k an ounce. 

Only $400 more - just crazy, crazy!

[xthomasx]

Sh...! I started monitoring rhodium at about 3500$ and refrained from buying, waiting for it to fall.

This fall might still happen, but it will take a long time, I am afraid.

[Pipers]

I sold mine now.  I'm out i only had a small amount. 

I only bought it because Bairds started to mint Rhodium and i thought i would buy it because no one else had it. 

[Pipers]

Sold mine and bought a little bit of gold today. 

[5huggy]

On 20/01/2020 at 11:01, Pampfan said:

Rhodium just hit $9,000 an ounce. 

why can’t gold do this? 😢

Soon BRO! 😉

[Ste999]

This makes me paranoid to sell my few oz of rhodium as the post insurance doesn't cover the cost of 1 oz. Also palladium is a bit nuts at the moment.

Doesn't help I'm 80 mile away from a metal dealer.

 

Might have to eBay it and risk it 😳

[goldking]

3 minutes ago, Ste999 said:

Might have to eBay it and risk it 😳

What could possibly go wrong?  

[Pipers]

On 22/01/2020 at 16:56, zhoutonged said:

What price as a % of spot did you get @Pipers ? If you dont mind me asking. Just putting out the feelers for when Im ready to sell.

 

Spot, cash private sale.  I took the view I bought early I knew the man who wanted the Rhodium he offered me spot so I took it, simple as really. Also imo it is always going to be easier to sell a metal like Rhodium in a bull market than in a bear market.   

Hope that helps

[Pampfan]

Rhodium is now over $10,000

 

[Pampfan]

Kitco

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Added 0 minutes later...

I think the difference is between the bid and the offer.

[Pampfan]

If it goes to $20k - I will sell and get myself a nice 1/2 kilo Pamp gold Fortuna bar. 😊

[ittle5huggy]

On 17/04/2018 at 14:43, Pampfan said:

More increases to the rhodium price this week. 

Are we at the start of a bull run?

Rhodium to 10k!!

As long as the petrol car exists and the world buy's jewellery and manufacturing expands then possibly .... very rare hard to get supply and demand ! https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=5&cad=rja&uact=8&ved=2ahUKEwjY17-rpqznAhWEQkEAHV1FDIAQFjAEegQICxAK&url=https%3A%2F%2Feducation.jlab.org%2Fitselemental%2Fele045.html&usg=AOvVaw2-qJhea1kjuyt8U_Z4ZdAa 

[8phwt]

Just now, Golddigger69 said:

Does Baird Mint buy back? Does anyone know?

 

 

They're a Rhodium dealer . . .

They have to get it from somewhere . . .

and if they can get it off you cheaper than they are flipping it to a buyer on the second phone line . . .