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Thread: Where now for Rhodium?

  1. #81

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    Quote Originally Posted by midiman View Post
    If everyone had the sense to leave Gold and Silver and start buying RH then it would be over $12K or more.

    Why bother with Gold and Silver if you want to make money?

    These people must love looking at up and down price movements of $20 and dreaming about $1400.
    Most people don't "bother" with Gold and Silver to make money, and those that do, are perhaps those so disappointed, they must be a good bulk of the common posters who visit gold and silver websites just to bash.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  2. #82

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    Quote Originally Posted by motocat View Post
    Most people don't "bother" with Gold and Silver to make money, and those that do, are perhaps those so disappointed, they must be a good bulk of the common posters who visit gold and silver websites just to bash.
    Why not?

    Gold and Silver had a good run and where some of the best investments out there until the breaks were put on them. Just like they are trying to do with Bitcoin now!!

    But Rhodium is different and I don't particularly think that any governments or banks would even care about it breaching $10K because it's not as mainstream.

    I think they only bash because they have seen the shine taken off their metal.

  3. #83

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    Quote Originally Posted by midiman View Post
    Why not?

    Gold and Silver had a good run and where some of the best investments out there until the breaks were put on them. Just like they are trying to do with Bitcoin now!!

    But Rhodium is different and I don't particularly think that any governments or banks would even care about it breaching $10K because it's not as mainstream.

    I think they only bash because they have seen the shine taken off their metal.
    Most stackers of physical gold and silver think of it as long term savings -- to preserve wealth, not to speculate on to "get rich quick". I'm not into physical metals for wild swings in price (relative to the market, not to FRN's) -- one reason I prefer gold over the others. If I wanted to trade to get wealthy - there are a lot of other choices with easier to predict and very large valuation swings (such as oil) -- and also that don't have very high premiums as found in wild Rhodium.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  4. #84

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    so major extreme swings today. rhodium up 70 yesterday and down 40 later in day, down 30 overnight and down 100 now. wtf? this **** drives me ****ing insane. good thing i can absorb the burning cash

  5. #85

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    i can absorb it but D A M N!!! all the gains gone and already down about $3500 in only 16 days since taking a chance on this MAGICAL metal. i feel like a ****ing fool! tulips anyone?

  6. #86

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    Quote Originally Posted by maxwellsilverhammer View Post
    i can absorb it but D A M N!!! all the gains gone and already down about $3500 in only 16 days since taking a chance on this MAGICAL metal. i feel like a ****ing fool! tulips anyone?
    With rhodium you have to be patient. If you look at the charts about every 10 years it goes up to 2-10k. I dont think we will ever see 10k ever again, but i do think 3-4k in the next year or 2 will happen. Its been about 8 or 9 years we haven't seen a big price increase. The price of rhodium jumped $500 in October and you are seeing a little selling for profits. Rhodium is a very small market and any big buys or sell orders makes the price jump. Hang in there and hopefully you will see big swing upwards.

  7. #87

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    Quote Originally Posted by maxwellsilverhammer View Post
    i can absorb it but D A M N!!! all the gains gone and already down about $3500 in only 16 days since taking a chance on this MAGICAL metal. i feel like a ****ing fool! tulips anyone?
    Calm down maxwellsilver.

    RH is not going to beat the price of Bitcoin in a couple of days.

  8. #88

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    Highs and lows of rhodium; Major price increase for ruthenium; Iridium holds stable

    Since our last report, rhodium saw a significant upturn, trading at just under $1,700/oz. on October 26. Then—as has often happened in the past—the situation changed dramatically. Buying activity had dwindled and almost all potential market players were now on the seller side. Although a few buyers took advantage of the favorable price level to cover initial demand, all traders, recyclers, and some mines tried to sell positions. They were only partially successful, however, since demand – particularly from Asia – was virtually non-existent. The price then dropped $300 in just six working days! Turnover was very high and positions were being liquidated so fast that this has fueled the current fear of a continued drop in prices. The first buyers and initial inquiries at the current price level, however, could be an indication of an increase in price support in the medium term.




    https://www.heraeus.com/en/hpm/marke...t_reports.aspx

  9. #89

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    Rhodium price erosion comes to a halt; Ruthenium shows a moderate price increase; Increased demand for iridium

    The strong interest in selling rhodium endured through the entire trading week, even though consumers and users have definitely shown an interest in buying. The surplus, however, was still too strong to stave off a higher price level. There was nevertheless greater demand at the end of the reporting week. The pressure to sell on the part of potential sellers who previously had to operate in an illiquid market has noticeably abated. It currently appears as if the price has hit a floor. For this reason, we envision sideways movement for the moment - and in the medium term even fixed rates once again. On the financing side, the situation remains tense and rates remain at a very high level.


    https://www.heraeus.com/en/hpm/marke...t_reports.aspx

  10. #90

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    Return of industrial buyers propels rhodium to $1,500/oz


    Washington (Platts)--17 Nov 2017 424 pm EST/2124 GMT


    Rhodium prices surged to $1,500/oz this week as industrial consumers rushed back into the market to take advantage of the rapidly falling prices over the last two weeks.

    The Platts New York Dealer rhodium price range jumped to $1,275-$1,500/oz from $1,240-$1,400/oz last week, with some market sources citing deals above $1,500/oz.

    "We basically saw the entire market turn, and it wasn't even the beginning of this week." one PGMs refiner said Thursday, who put this week's range at $1,280-$1,500/oz. "We would say it started [last] Friday.

    "It was one of those times when on Thursday, we were getting no calls for bids, only offers. Then come Friday, we were getting nothing but bids and the offers had all dried up," the refiner said.

    Major European refiners Johnson Matthey of the UK and Engelhard Materials Services (BASF) of Germany posted rhodium base prices of $1,300/oz on November 10.

    Those base prices marked a 22% retracement from a six-year high of $1,675/oz reached October 25. Both refiners ended this week at $1,515/oz.

    Market sources attributed the retracement to selling by speculative investment funds that had bought before rhodium prices began rising in late September. Rhodium fell below $1,000/oz in May.

    "We were getting a lot of cheap stuff because there was still a lot of panic selling [last] Thursday and Friday," said one US PGMs dealer who put the range this week at $1,250-$1,515/oz.

    "It was still coming off so hard that people were panic selling," he added, referring to speculative funds and secondary refiners.

    But industrial demand remained steady during the selloff, market sources said, citing buying last week by consumers across multiple industrial sectors at $1,300-$1,325/oz.*

    That buying extended to the current week.*

    "I think that consolidation to $1,300/oz proved to be the low," a second US PGMs dealer said, putting this week's range at $1,240-$1,490/oz. "A lot of the specs stopped out and made the selloff worse than it should have been, and small buyers came back in, thinking this was a good value."

    But buying from a few auto sector consumers accelerated the advance from $1,400/oz to $1,500/oz, according to multiple sources.

    "In the $1,300s, there was plenty of industrial demand," said a second PGMs refiner, who put this week's range of deals at $1,275-$1,500/oz.

    "But then when it got above $1,400, that's when it dried up and the auto [buyers] accelerated it to $1,500/oz," the source said.

    Nearly 75% of global demand for rhodium comes from the auto sector, which uses the metal in catalytic converters to reduce certain greenhouse gas emissions and air pollutants.

    But the metal is also used by the glass sector to make reinforcement fiber for digital electronics and by the chemical sector as a catalyst to produce certain chemicals.*

    https://www.platts.com/latest-news/m...um-to-10041778

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