@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"
@Rhodl said:
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!
Interesting. JM prices rhodium 4x a day. Must have fallen another 10% after NY pricing at 0930. I'll be curious to see HK price tonight. Thanks for ruining my day, lol.
My rhodium man came by today matter fact pursuing silver again. Said , he might of should sold a little more rhodium prior, but oh well. He did buy some ruthenium last month(edited to add, not from me, i dont even know what it is or used for), funny that I see somebody else commenting on that
I started watching Rhodium ($1000) and Gold ($1250) in 2013. Now its Rhodium ($20,000+) and Gold ($1900). I guess pandemic quarantine pressed new car demand.
Rhodium was experiencing very slight surplus, but generally tight supply while prices were high. 80% of supply goes to auto catalyst in internal combustion engine vehicles. Worlds largest auto mfr, announces 40% cut in vehicle production for the month of September. Most all auto manufacturers reducing production due to chip shortages. Chip shortages expected to last at least into 2022. Rhodium supply therefore suddenly in big surplus.
I continue holding a little. Waiting for $30K, lol. Almost got there. The problem for rhodium in the mid to long term is that it needs a catalyst, pun intended. Look to China.... They are manufacturing more BEVs than the US and Europe combined. No rhodium required. Rhodium needs hybrids and plug in hybrids to compete with BEV. Government policy may not support that over time. If internal combustion engines fall off significantly in production, future supply can come from from recycling. Rhodium IMO needs some unique new use case.... Say in space or healthcare or something other than ICE. It has gone up 22% from recent lows, however.
From mid Nov through mid Dec, not a single rhodium bullion product (defined by me as at least a gram so as not to include those elemental sample kits) sold on eBay. More than a month of no sales (a very modest number of listings, seemingly,well overpriced with Rh stable around $13-14K). Someone just bought 1/10oz for $2,000, which despite being high IMO, was less most of the other recent listings on a per oz basis. I see a few scenarios here... One is that some people bought at really high prices, and don't want to take a loss now so are either holding, or overpricing their listings just hoping someone desperate to get them some Rh comes along. Another possibility is that investors are holding out for prices over $20K and higher again. A third is that a lot of the Baird and Pamp bars, and Cohen assortment have already made their way back through refineries and are now lining a catalytic converter. Chances are a little of all three. I am still waiting for $30K lol.
Nobody seems to have new plat and palladium bars either, despite all the surpluses... I guess it's due to shipping problems. There certainly seems to be plenty of investor demand of the Bay of E. I personally refuse to pay those kind of premiums though. Saw Kitco had sealed Rhodium "Sponges" at one point which I guess is another way to buy it.
Seller with feedback (1) as buyer from large coin dealer lists the above (1oz each Pamp bar Rh, Pd, Pt, Au, Ag). I'm not sure auction went the distance, but sold for $14,900. Obviously, way under market value (the Rh alone is worth more currently than the selling price for the lot).
Just a day or two prior seller sold 3 "lab authenticated" pure Rh "buttons" in separate auctions, 345 grams total. Ironically, selling price went up with each consecutive auction close though the listed weight of the buttons was smaller. Total selling price combined, $32.2k. If you were to get just 80% of spot from a refiner at the much lower Rh price of just a week ago, you'd pocket over 4X that amount.
12% of rhodium prhoduction.....Rhussia. Though not as significant a perhcentage as palladium, 12% is a big deal for a metal in tight supply. JM listed prhice suggests the metal has moved back to $20K.
Comments
diamondhands
Welcome to the forums!
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Thanks asheland! Happy to be here!
Good suggestion shadydave! I think i will watch the market and wait for all the suckers exit.
Don't forget to pay those taxes after you sell!!!
My accountant just told me that I have enough losses since I acquired them that I can cover the spread, even if Rh goes to $50K
Sorry to hear that...
Is your accountants last name Celery?
My Ebay Store
My Ebay Store
Lol! No, his last name is Andersen. As in Arthur Andersen LLP.
As in Enron and no longer in business?
Hah! Exactly.
Rhodium huge hit today, down 19% -4500$
Wow
It's all about what the people want...
Source? I'm seeing a $1,750 fall from last Friday, and $4,300 from all time high in March.
I see this on kitco currently
It's all about what the people want...
Interesting. JM prices rhodium 4x a day. Must have fallen another 10% after NY pricing at 0930. I'll be curious to see HK price tonight. Thanks for ruining my day, lol.
Meanwhile, ruthenium has doubled in,the past month.
My rhodium man came by today matter fact pursuing silver again. Said , he might of should sold a little more rhodium prior, but oh well. He did buy some ruthenium last month(edited to add, not from me, i dont even know what it is or used for), funny that I see somebody else commenting on that
Dang, I was looking at a 19oz bottle last month for about 10k and thought it was a little high... in hindsight
It's all about what the people want...
16,500 right now.
My YouTube Channel
Look like a little pop today, up +4,500 or 27%
The Fundamentals are strong with this one 💪
It's all about what the people want...
Prediction: Rh price will surpass that of BTC at some point this year.
getting there
Rhodium 22,400.00...............
I started watching Rhodium ($1000) and Gold ($1250) in 2013. Now its Rhodium ($20,000+) and Gold ($1900). I guess pandemic quarantine pressed new car demand.
Platinum Group Metals
https://www.thoughtco.com/list-of-platinum-group-metals-608462
@7thBase Welcome to the forums!
My YouTube Channel
Bumping this one. Rhodium is currently at $9,500! Does anyone know what's happened?
My YouTube Channel
Rhodium was experiencing very slight surplus, but generally tight supply while prices were high. 80% of supply goes to auto catalyst in internal combustion engine vehicles. Worlds largest auto mfr, announces 40% cut in vehicle production for the month of September. Most all auto manufacturers reducing production due to chip shortages. Chip shortages expected to last at least into 2022. Rhodium supply therefore suddenly in big surplus.
Boy, My man should have really sold, i saw the past day where it tanked.
he could have pocketed a clear 1ook profit if he would have sold it 6 months ago
The chip shortage could be with us awhile. Does that mean that rhodium will be a buy after the surplus sits around for a year or so?
I knew it would happen.
I continue holding a little. Waiting for $30K, lol. Almost got there. The problem for rhodium in the mid to long term is that it needs a catalyst, pun intended. Look to China.... They are manufacturing more BEVs than the US and Europe combined. No rhodium required. Rhodium needs hybrids and plug in hybrids to compete with BEV. Government policy may not support that over time. If internal combustion engines fall off significantly in production, future supply can come from from recycling. Rhodium IMO needs some unique new use case.... Say in space or healthcare or something other than ICE. It has gone up 22% from recent lows, however.
From mid Nov through mid Dec, not a single rhodium bullion product (defined by me as at least a gram so as not to include those elemental sample kits) sold on eBay. More than a month of no sales (a very modest number of listings, seemingly,well overpriced with Rh stable around $13-14K). Someone just bought 1/10oz for $2,000, which despite being high IMO, was less most of the other recent listings on a per oz basis. I see a few scenarios here... One is that some people bought at really high prices, and don't want to take a loss now so are either holding, or overpricing their listings just hoping someone desperate to get them some Rh comes along. Another possibility is that investors are holding out for prices over $20K and higher again. A third is that a lot of the Baird and Pamp bars, and Cohen assortment have already made their way back through refineries and are now lining a catalytic converter. Chances are a little of all three. I am still waiting for $30K lol.
Nobody seems to have new plat and palladium bars either, despite all the surpluses... I guess it's due to shipping problems. There certainly seems to be plenty of investor demand of the Bay of E. I personally refuse to pay those kind of premiums though. Saw Kitco had sealed Rhodium "Sponges" at one point which I guess is another way to buy it.
Somewhat unusual selling on eBay.
https://www.ebay.com/itm/313820063391?_trksid=p2471758.m4704#vi__app-cvip-panel
Seller with feedback (1) as buyer from large coin dealer lists the above (1oz each Pamp bar Rh, Pd, Pt, Au, Ag). I'm not sure auction went the distance, but sold for $14,900. Obviously, way under market value (the Rh alone is worth more currently than the selling price for the lot).
Just a day or two prior seller sold 3 "lab authenticated" pure Rh "buttons" in separate auctions, 345 grams total. Ironically, selling price went up with each consecutive auction close though the listed weight of the buttons was smaller. Total selling price combined, $32.2k. If you were to get just 80% of spot from a refiner at the much lower Rh price of just a week ago, you'd pocket over 4X that amount.
Something seems fishy to me.
I saw it too RobM, looked way too good to be true.
I’ve seen people take chances and use the PayPal buyer protection program, but that would mean tying up 15k for a month or more on your Credit cards.
I will say rhodium has shown some serious strength this past week+ up like $4000… kitco currently bid 16,650 ask 18,850
Maybe we see a test of ATH this year (28,000 I believe)
It's all about what the people want...
12% of rhodium prhoduction.....Rhussia. Though not as significant a perhcentage as palladium, 12% is a big deal for a metal in tight supply. JM listed prhice suggests the metal has moved back to $20K.