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It appears that the Rhodium bubble is starting to burst!

ashelandasheland Posts: 22,572 ✭✭✭✭✭

Down $3500 in less than a week! :#

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Comments

  • ashelandasheland Posts: 22,572 ✭✭✭✭✭

    16,000 right now.

  • LukeMarshallLukeMarshall Posts: 1,883 ✭✭✭✭✭

    One month chart, 14,000 low, 20,000 high sitting at 16,000...

    Healthy retrace?

    It's all about what the people want...

  • RobMRobM Posts: 528 ✭✭✭

    Rhodium is so......yesterday. A bunch of us have moved over to iridium, atomic number 77.

  • JimnightJimnight Posts: 10,683 ✭✭✭✭✭

    It looks that way.

  • abcde12345abcde12345 Posts: 3,404 ✭✭✭✭✭

    @Jimnight said:
    It looks that way.

    :o

  • RobMRobM Posts: 528 ✭✭✭

    Rhodium has already recovered more than half its losses. Rumor has it that angry Redditers googling RH (for Robinhood) are stumbling upon Rh, which though limited in supply, isn't limited to one purchase. Ever since they've been buying physical Rh,1 gram at a time.

  • LukeMarshallLukeMarshall Posts: 1,883 ✭✭✭✭✭
    edited February 1, 2021 6:39PM

    @RobM said:
    Rhodium has already recovered more than half its losses. Rumor has it that angry Redditers googling RH (for Robinhood) are stumbling upon Rh, which though limited in supply, isn't limited to one purchase. Ever since they've been buying physical Rh,1 gram at a time.

    Haha,
    And like Robinhood, there are fractional shares of rhodium if they cant afford to spend their entire $600 stimulus check on 1 gram of rhodium (about the current spot price of 1g)

    1/4g cohen mint rhodium rounds

    Disclaimer - I actually have one of these and it is really tiny

    It's all about what the people want...

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    So much for that "bubble burst"....balloon is reinflating ;) All the PM's are down except for????

    Rhodium 19000.00..... +500.00

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • metalmeistermetalmeister Posts: 4,584 ✭✭✭✭✭

    Makes $ilver look cheap.

    email: [email protected]

    100% Positive BST transactions
  • RobMRobM Posts: 528 ✭✭✭
    edited February 6, 2021 9:48PM

    @metalmeister said:
    Makes $ilver look cheap.

    True...but when you consider that $ilver to rhodium mined rhatio is around 900:1, rhecent rhodium price isn't rheally that extreme. Plus, there is little private investment in rhodium, and I wouldn't be surprised if Baird and Pamp have stopped rhegular bar production due to the industrial demand. There is no rheal shortage of $ilver for industrial purposes, and investor bullion hoards could potentially rhesupply the industrial market for years. That's not to suggest that $ilver doesn't have rhoom to rhun. Rhealistically, rhodium may reach $30-50K in the next 3-5 years. I started rhesearching rhodium back in 2015, and have been rheaping profits. Sorry folks, I couldn't rhesist.

  • And its back to where it was

    @RobM Can you elaborate on why you think 30-50k? Im keen to understanding more about rhodium and its actual applications. It seems like you have done lots of research on the topic.

  • RobMRobM Posts: 528 ✭✭✭

    @goldrealmoney79 said:
    And its back to where it was

    @RobM Can you elaborate on why you think 30-50k? Im keen to understanding more about rhodium and its actual applications. It seems like you have done lots of research on the topic.

    Sure. The biggest application (80%) is as petrol vehicle exhaust catalyst. Rhodium cannot be replaced by other PGMs for its ability to reduce NOx compounds. Look up China 6 emissions requirements. They (6a) just went into effect nationwide in China starting this year. More stringent regulations require increased use of catalysts. In 2023, China is planning to go to 6b which includes approximately a 40% further reduction in NOx emissions. Based on existing science, this requires more rhodium in a catalytic converter. More stringent regs are also being implemented in India, not to mention Europe and North America. But just China and India, both largely dependent on fossil fuels for energy requirments, will result in tens of millions of petrol and hybrid vehicles for at least the next couple decades. Therefore, a continuing deficit in rhodium supply. There is no such thing as a rhodium mine (unlike gold or silver). Rhodium is byproduct of nickel and other metal mining (such as platinum). Platinum is not in shortage, and can be substituted for palladium, but not rhodium. But in order to mine more rhodium by opening new mines, it would force other more common metals into surplus which would not benefit miners. That gets us back to the question of whether $30-50K is possible. Since we're already at $21,800 it is a possibility. IMO it comes down to how much consumers can afford to spend for the amount of rhodium required in the average automobile. The limited info I've been able to find suggests an average of around 1/3g per vehicle. That means that it takes about an ounce of rhodium to manufacture 100 petrol autos. At $50k/oz that would mean that rhodium was contributing $500 to the cost of each unit. That is probably not enough to make things unaffordable, or force faster transitions to battery electric vehicles in places where the grid will be fossil fuels for years to come. In the longer term, rhodium rocketship is likely to return to Earth, but you never know... Maybe the rocketship thrusters will be made of rhodium.

  • ashelandasheland Posts: 22,572 ✭✭✭✭✭

    Apparently it's not in a bubble! Very interesting...

  • RobMRobM Posts: 528 ✭✭✭

    Rhodium story of course needs steady auto sales. I wouldn't be surprised if it struggles a bit here due to the semiconductor shortage. GM and other shutting down some assembly due to chip shortages.

  • RobMRobM Posts: 528 ✭✭✭

    $23,400. Ho hum.
    I expect Rh to break out for real any day now.

  • ashelandasheland Posts: 22,572 ✭✭✭✭✭

    New high today... :o

  • RobMRobM Posts: 528 ✭✭✭

    $24,900! Of course, no one in their right mind would buy, or even hold, rhodium at these prices. It just takes up lots of space in your safe, and gets squeezed aside by all the silver in there. Plus, holding an ouce, or even a gram, of rhodium in your hand is nothing near as satisfying or efficient as enjoying the beauty of a newly minted fractional bitcoin.

  • jdimmickjdimmick Posts: 9,578 ✭✭✭✭✭
    edited February 25, 2021 7:48PM

    1 oz bar, yes it is serial numbered, but its already spoken for, so i did not want to show the SN Number as my end buyer may place on open market

  • jdimmickjdimmick Posts: 9,578 ✭✭✭✭✭

    One of my customers has 5 of these, and if you can believe this, he has less than 6k in all 5. Bought several years ago when rhodium was about a grand. I told him this am, he ought to sell a few and do something with the money.
    I have already sold about 7 of his 1/10th baird & co bars for him last month.

    Incredible investment return. Be he is one who buys what no one wants or is cold, and sells whats hot.

  • RobMRobM Posts: 528 ✭✭✭

    @jdimmick, I can believe it. I had a cost basis of less than $1100/oz before I made some fractional purchases back in November, raising my average cost basis quite a bit. As a matter of fact I purchased the 1/10oz bar you sold on eBay on 11/29.

  • RobMRobM Posts: 528 ✭✭✭

    $27,400! JM price table 0930 NY. At current trend will surpass bitcoin within next two weeks.

  • ashelandasheland Posts: 22,572 ✭✭✭✭✭

    I remember 1oz pieces being around a grand and considering getting one... :s
    Never did... :'(

  • ashelandasheland Posts: 22,572 ✭✭✭✭✭

    $26,000 bid today! :o

  • LukeMarshallLukeMarshall Posts: 1,883 ✭✭✭✭✭

    Wild swings I will say, down $4200 in the last three days.

    From Kitco
    Bid 21,800
    Ask 23,800

    Last pullback when this thread was created came back with a fury... so is this another healthy retrace before new ATHs

    Or

    It's all about what the people want...

  • jdimmickjdimmick Posts: 9,578 ✭✭✭✭✭

    My man came by today, I told him , you should have sold the other bars while you had the chance" his exact words, just a temporary pull back to clear out the suckers, before 30k"

  • ashelandasheland Posts: 22,572 ✭✭✭✭✭
    edited March 11, 2021 6:18AM

    19,000 right now. Really pulling back today! :#

  • jmski52jmski52 Posts: 22,271 ✭✭✭✭✭

    Looking at the rhodium charts, it would be good to be able to tolerate a fair amount of volatility if you invest in rhodium. And, of course - to be able to buy at the right level - that helps quite a bit as well. Not for me, but it's interesting.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • jdimmickjdimmick Posts: 9,578 ✭✭✭✭✭

    Personally, I think my guy messed up not selling the other 4 bars at 26K

    jim

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    bubble is now at 21,500 ;)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    Rhodium 25,500.00

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • ashelandasheland Posts: 22,572 ✭✭✭✭✭

    27,000! :o

  • LukeMarshallLukeMarshall Posts: 1,883 ✭✭✭✭✭

    @jdimmick said:
    My man came by today, I told him , you should have sold the other bars while you had the chance" his exact words, just a temporary pull back to clear out the suckers, before 30k"

    This guy is the man

    It's all about what the people want...

  • RobMRobM Posts: 528 ✭✭✭
    edited March 19, 2021 6:25AM

    Johnson Mathey 0930 NY price today? $29,400! ATH.

    I'm still hodling for $30K based upon the $30-50K prediction that nutty forum member made a while back.

  • LukeMarshallLukeMarshall Posts: 1,883 ✭✭✭✭✭

    @RobM said:
    Johnson Mathey 0930 NY price today? $29,400! ATH.

    I'm still hodling for $30K based upon the $30-50K prediction that nutty forum member made a while back.

    That guy is also the man!

    It's all about what the people want...

  • ashelandasheland Posts: 22,572 ✭✭✭✭✭

    I wish I had some. :'(

    :D

  • LukeMarshallLukeMarshall Posts: 1,883 ✭✭✭✭✭

    @asheland said:
    I wish I had some. :'(

    :D

    I have a Cohen Mint 1gram coin I’m willing to let go. PM me and we’ll work something out. 😀

    It's all about what the people want...

  • ashelandasheland Posts: 22,572 ✭✭✭✭✭

    I guess it should read: I wish I had some when it was 1,500 an ounce. :D

  • Hello everyone! Im new here and this is my first post. I bought into Rhodium at the $2,000 level. Very happy I did! No one was interested at that time and bars were readily available. I am still holding because there are just no buyers that i have found that will give a decent price at these levels. I dont like to put limits on any price predictions, nor am I qualified to, so i won’t go there. I think in our current global environment that anything is possible. I hope that everyone becomes a bull on every asset class that the governments and central
    Banks cannot govern and control. After all, this is the year of the Ox (the BULL) in Chinese zodiac. More specifically Metal Ox. Good luck to everyone here!

  • BaleyBaley Posts: 22,658 ✭✭✭✭✭

    @Rhodl said:
    I am still holding because there are just no buyers that i have found that will give a decent price at these levels.

    Hmmm.. let's think about that one a minute... if no one will buy it "at these levels", how can it possibly be "at these levels?

    Liberty: Parent of Science & Industry

  • Baley, Have you tried selling any lately? I have some Baird Mint bars. I called them directly and they said they will buy back their own bars at the Bid price, which currently is at $19,000 on “live metals pricing” on bairdmint.com. Same with most other sites. Maybe I should start to reach out to the end users, such as catalytic converter manufacturers and auto makers? Where and how would you sell bars if you had some?

  • RobMRobM Posts: 528 ✭✭✭

    @Rhodl, what would be a decent price today?

  • RobM, maybe something like 90% of Bid price on kitco which is at $27K = $24.3K. Still leaves anywhere from $3K - $5K for profit on resale at Ask price of $29K. Sound fair or am I wrong?

  • BaleyBaley Posts: 22,658 ✭✭✭✭✭
    edited March 22, 2021 11:43AM

    @Rhodl said:
    they will buy back their own bars at the Bid price, which currently is at $19,000 on “live metals pricing” on bairdmint.com. Same with most other sites. Maybe I should start to reach out to the end users, such as catalytic converter manufacturers and auto makers?

    "Bid" means buy and "ask" means sell, among market makers the difference represents overhead costs, opportunity costs/market risks, and profits.

    If you're trying to get Ask prices, or some number between published Bid and Ask levels, perhaps try retail collectors and investors.

    Perhaps try eBay (and they'll get their cut of your profits) or here on the BuySellTrade thread.

    Good luck!

    Liberty: Parent of Science & Industry

  • RobMRobM Posts: 528 ✭✭✭

    I would pay $24,300. How many ounces you want to sell?

  • Thanks Baley!

  • USASoccerUSASoccer Posts: 445 ✭✭✭

    I found a site paying 25K for one ounce rhodium.

  • RobM, I have 9 ounces.

  • RobMRobM Posts: 528 ✭✭✭

    Sold.... Lol. Rhodl, I'm sending you a PM.

  • cohodkcohodk Posts: 18,512 ✭✭✭✭✭
    edited March 22, 2021 1:48PM

    .

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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