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Thread: Why the Upswing?

  1. #31

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    Quote Originally Posted by golditiki2 View Post
    I guess midiman is now sunbathing somewhere...

    Golditiki2+++
    No I'm stuck in doors sheltering from the extreme wind and rain that we are experiencing here.

    Right now I'm coming home from work more or less everyday and seeing that Rh is returning more than what I earn in a month. It returned $11K for me in one week alone in January.

    I'm scared and I know that it's not going to continue that way for ever.

    But I've been Rhodium best backer on here since people were saying that it was going to near zero and it was time to sell it.

    This baby owes me $$$$$$$$$$ and I never want to be away from it even when I decide to exit.

    Bury me with an ounce!!!

  2. #32

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    Looking at the Kitco site for buying Rh, there is none available at this moment in fact there would
    be no difficulty selling Rh to Kitco.....
    Thomas Jefferson is credited with writing, “When injustice becomes law, resistance becomes duty.” The seceding states in the Civil War period issued a similar declaration using the word “tyranny” as opposed to “injustice.”

  3. #33

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    Quote Originally Posted by vertical1 View Post
    Looking at the Kitco site for buying Rh, there is none available at this moment in fact there would
    be no difficulty selling Rh to Kitco.....
    That is true. And you need to call for their sell to them prices. If Rhodium is in such short supply, one would think their buy prices would be closer to spot (now at $12,100 to $12,175, depending on sources). Certainly their must be some buyers of their rhodium product getting turned away if they now have none to sell. I wonder if one had pool holding, could you convert to and ask for physical delivery now? If I had any Rhodium in my pool account, I would be doing this now (also as a test on pool holdings in lean times when it really matters), then selling on the open market, given such scarcity. The buy-sell spread is now at $1200/oz.

    Edit: Strange coincidence, my Kitco app on my smartphone that reports prices of various precious metals just stopped showing price of Rhodium.
    Last edited by motocat; 02-24-2020 at 12:50 AM.
    “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. #34

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    Quote Originally Posted by motocat View Post
    That is true. And you need to call for their sell to them prices. If Rhodium is in such short supply, one would think their buy prices would be closer to spot (now at $12,100 to $12,175, depending on sources). Certainly their must be some buyers of their rhodium product getting turned away if they now have none to sell. I wonder if one had pool holding, could you convert to and ask for physical delivery now? If I had any Rhodium in my pool account, I would be doing this now (also as a test on pool holdings in lean times when it really matters), then selling on the open market, given such scarcity. The buy-sell spread is now at $1200/oz.

    Edit: Strange coincidence, my Kitco app on my smartphone that reports prices of various precious metals just stopped showing price of Rhodium.
    I was thinking the same the other day.

    Kitco are duty bound to convert pool holdings to physical. Which means someone should bite your hand off if you can get a seller in this shortage of RH.

    Kitcos buy back price is just simply ridiculous.

  5. #35

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    Quote Originally Posted by midiman View Post
    I was thinking the same the other day.

    Kitco are duty bound to convert pool holdings to physical. Which means someone should bite your hand off if you can get a seller in this shortage of RH.

    Kitcos buy back price is just simply ridiculous.
    I wonder if I bought some Rhodium pool holdings today (you still can), and then soon asked for the Rhodium in physical form, what would they send? I have asked for pool holdings of gold and platinum before, and received such in bullion form, which is the only reason I use their pool (confidence they do in fact have physical in storage for those who supposedly own in). Maybe they would send in sponge form, if 1 oz or greater. What if in 1/2 oz or 1/10th oz? If they allow one to purchase metals in fractional amounts, should they not be able to redeem in fractional amounts? I know 1/10th oz Rhodium bars do exist and are not rare (Baird Mint), so why not? I may in fact want to buy a fractional amount or Rhodium, and get physical in fractional amounts, I will call to see what their policy is on this, it is rather important given confidence is the reason I have their pool...

    Edit: Called to check on this. You can not convert your Rhodium pool holdings to physical at this time (and it seems no one has asked to before). Furthermore, Kitco is no longer buying back Rhodium Bars/Rounds, even from old customers, as the refiners have set strict limits on how much they would accept. Midi -- you better check just how you can unload your physical Rhodium before you start celebrating to much, to test the waters, see how easy it is to unload 1 oz. Apparently, there are only three Rhodium refineries and they seem to have a big effect on the flow of Rhodium to those who use it in manufacturing (largely in catalyst) -- which leads me to believe they also have a big effect on price. With Rhodium price, it's hardly just Supply and Demand, getting from point A to point B also has major effect.
    Last edited by motocat; 02-24-2020 at 10:34 PM.
    “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)

  6. #36

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    Quote Originally Posted by motocat View Post
    I wonder if I bought some Rhodium pool holdings today (you still can), and then soon asked for the Rhodium in physical form, what would they send? I have asked for pool holdings of gold and platinum before, and received such in bullion form, which is the only reason I use their pool (confidence they do in fact have physical in storage for those who supposedly own in). Maybe they would send in sponge form, if 1 oz or greater. What if in 1/2 oz or 1/10th oz? If they allow one to purchase metals in fractional amounts, should they not be able to redeem in fractional amounts? I know 1/10th oz Rhodium bars do exist and are not rare (Baird Mint), so why not? I may in fact want to buy a fractional amount or Rhodium, and get physical in fractional amounts, I will call to see what their policy is on this, it is rather important given confidence is the reason I have their pool...

    Edit: Called to check on this. You can not convert your Rhodium pool holdings to physical at this time (and it seems no one has asked to before). Furthermore, Kitco is no longer buying back Rhodium Bars/Rounds, even from old customers, as the refiners have set strict limits on how much they would accept. Midi -- you better check just how you can unload your physical Rhodium before you start celebrating to much, to test the waters, see how easy it is to unload 1 oz. Apparently, there are only three Rhodium refineries and they seem to have a big effect on the flow of Rhodium to those who use it in manufacturing (largely in catalyst) -- which leads me to believe they also have a big effect on price. With Rhodium price, it's hardly just Supply and Demand, getting from point A to point B also has major effect.
    Perhaps they want to phase out of Rhodium altogether as there is too much downside potential.

  7. #37

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    Quote Originally Posted by darkseid1998 View Post
    Perhaps they want to phase out of Rhodium altogether as there is too much downside potential.
    That may be the case. To much trouble for them, for to little gain. Not just because of current potential downside, but due to not being able to sell bars to the few refiners fast enough. I for one think they should do this (not market Rhodium product), given they are not now buying back the very Rhodium product they once sold, and for whatever reason, it does not benefit them to hold bars and other individual PM consumer product in their pools. If you can't do it right, don't do it at all. It seems to me, that given how small the Rhodium market is, if you are a refiner or some other important middle man, you can also have a big effect on the price, Rhodium price is not as some supposed "experts" make it out to be, hardly just supply and demand that effect the wild swings on this.
    “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)

  8. #38

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    Quote Originally Posted by motocat View Post
    I wonder if I bought some Rhodium pool holdings today (you still can), and then soon asked for the Rhodium in physical form, what would they send? I have asked for pool holdings of gold and platinum before, and received such in bullion form, which is the only reason I use their pool (confidence they do in fact have physical in storage for those who supposedly own in). Maybe they would send in sponge form, if 1 oz or greater. What if in 1/2 oz or 1/10th oz? If they allow one to purchase metals in fractional amounts, should they not be able to redeem in fractional amounts? I know 1/10th oz Rhodium bars do exist and are not rare (Baird Mint), so why not? I may in fact want to buy a fractional amount or Rhodium, and get physical in fractional amounts, I will call to see what their policy is on this, it is rather important given confidence is the reason I have their pool...

    Edit: Called to check on this. You can not convert your Rhodium pool holdings to physical at this time (and it seems no one has asked to before). Furthermore, Kitco is no longer buying back Rhodium Bars/Rounds, even from old customers, as the refiners have set strict limits on how much they would accept. Midi -- you better check just how you can unload your physical Rhodium before you start celebrating to much, to test the waters, see how easy it is to unload 1 oz. Apparently, there are only three Rhodium refineries and they seem to have a big effect on the flow of Rhodium to those who use it in manufacturing (largely in catalyst) -- which leads me to believe they also have a big effect on price. With Rhodium price, it's hardly just Supply and Demand, getting from point A to point B also has major effect.
    Today has not been a good day. $800 an oz down!!!

    Why would you sell, this Corona Virus hype is wiping trillions off the markets it has to stop!!

    As for Kitco, these rule benders need to get their act in gear because I am not going to take none of it.

    I entered into an agreement and they best not break the terms and let their customers down.

  9. #39

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    Quote Originally Posted by midiman View Post
    Today has not been a good day. $800 an oz down!!!

    Why would you sell, this Corona Virus hype is wiping trillions off the markets it has to stop!!

    As for Kitco, these rule benders need to get their act in gear because I am not going to take none of it.

    I entered into an agreement and they best not break the terms and let their customers down.
    You better call or at least consider how you will unload at least some of what you have now. You may not actually be able to.
    “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)

  10. #40

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    Quote Originally Posted by motocat View Post
    You better call or at least consider how you will unload at least some of what you have now. You may not actually be able to.
    No.

    There will be a slight correction due to all of this paranoia but the fundamentals are not going away.

    The demand is still there, and the supply is going to be weakened somewhat.

    It's not just Rhodium, Palladium and all of the others are in too.

    This Corona Virus is a global problem that needs resolving fast and I believe that the markets will rebound with venom on good news.

    Buy!!!
    Last edited by midiman; 02-29-2020 at 04:31 AM.

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