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All the high rollers who bought the Rhodium pool

WeissWeiss Posts: 9,941 ✭✭✭✭✭
in Precious Metals
When it was stuck at $1500...

Have finally made $100 per ounce after the ludicrous Kitco premiums.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

  • adamlaneusadamlaneus Posts: 6,969 ✭✭✭
    I, for one, do not believe that Kitco holds any Rhodium metal.

    I believe that what they trade in is paper with the word Rhodium on it.

    I feel it is about as safe as Private Currency issued by some organization in the Free Banking Era.

  • fcfc Posts: 12,793 ✭✭✭
    bought in at 1500 and now it is 2000 and only made 100 bucks?

    this is taking out taxes and everything else i assume right?

    or is that just the premiums from kitco ruining the profits?
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭


    << <i>bought in at 1500 and now it is 2000 and only made 100 bucks?

    this is taking out taxes and everything else i assume right?

    or is that just the premiums from kitco ruining the profits? >>



    That's just the premiums. As I type Kitco is selling shares in the pool @ $2350, buying @ $1950. $400 premium per "ounce".

    So if you were lucky enough to buy in for the very short window when it was $1500, you paid $1900. But you can now sell for $1950.

    Kitco's pool accounts
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
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