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Rhodium ETF?

PokermandudePokermandude Posts: 2,710 ✭✭✭
in Precious Metals
I am considering buying some of this metal given that it is again and a long term low. There are 1 oz bars at kitci, but they only ship to the USA. The spread on their Rhodium pool account is a much too high for my tastes at 10%.

Suggestions? Anyone else think this metal is a good buy right now?
http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections

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    derrybderryb Posts: 36,199 ✭✭✭✭✭
    I believe Kitco has a rhodium pool account along with their other PM pool accounts. Unallocated paper trading, but no riskier than ETFs. I've used kitco's silver, gold and platinum pool accounts with complete satisfaction. Once account is open, buy or sell with push of a button or call and make an immediate trade - you can leave a cash balance in your account for future trading or they will send you a check. Check their pool account page for buy/sell spreads. I also use ETFs, but they require a brokerage account with someone like Scottrade. I see no advantage either way when trading paper metal.

    Keep an open mind, or get financially repressed -Zoltan Pozsar

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    fcfc Posts: 12,789 ✭✭✭
    Since auto manufacturers are the biggest user of the metal what reasoning do you have that you think it would double in price?

    And if it doubled due to many cars being sold would not stocks rocket upwards due to the economy gaining so much steam? so money might be invested elsewhere that could garner a better return as well as a div while you wait?
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    PokermandudePokermandude Posts: 2,710 ✭✭✭
    It's a truly rare metal. I think platinum group metals have a much better chance of doubling than stock indicies. Rhodium seems quite oversold and sits on a solid floor of ~$1000. The only thing holding me back from buying is finding it at a reasonable premium for physical or a small spread in an ETF form. Kitco's ~10% spread ($1025 buy/$1125 sell) is pretty steep to overcome.
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
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    fcfc Posts: 12,789 ✭✭✭


    << <i>It's a truly rare metal. I think platinum group metals have a much better chance of doubling than stock indicies. Rhodium seems quite oversold and sits on a solid floor of ~$1000. The only thing holding me back from buying is finding it at a reasonable premium for physical or a small spread in an ETF form. Kitco's ~10% spread ($1025 buy/$1125 sell) is pretty steep to overcome. >>



    1190 + shipping is the cheapest i saw for 1 oz in a bar form. Quite the premium and i am not sure who will buy it if the price pops up 500 dollars.
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