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Thread: Why the Upswing?

  1. #41

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    Quote Originally Posted by midiman View Post
    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!!!
    I wouldn't buy any additional Rhodium or Palladium but with this price dip I would hold. I would definitely buy silver and platinum on this dip and maybe small amounts of gold. I don't like buying Rhodium at this level because some of the buyers dropped out of the market. Kitco no longer has it's major buyer so it's trying to phase out of owning Rhodium. Provident Metals dropped Rhodium just last year at $2000 an ounce, the only ones left if they can find a buyer are goldeneaglecoins and Liberty gold and silver and sometimes Endeavor metals but you have to work out a deal with them and it may take a week to find a buyer to unload your Rhodium. Kitco now has a waiting list as they try to source individual buyers for each bar.

  2. #42

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    That's what people were saying on here when it was below $1000 and now look at it.

    I have stood by RH for over 10 years and I have always said that I was waiting for it to return and break its all time high but I never thought that I would see it move so quick in a short space of time.

    IMO the price of RH is no where near where it should be , its more or less back to where it was 2008 and still have the potential to go higher this year.

    Some have said that auto manufacturers can still afford to buy at $55K oz. So who knows, we are only just out of Feb and people are already asking $13K oz.
    I can't predict where RH is heading anymore but I would love to see it hit $25K oz by end of this year or even higher. For example, look where Gold is right now, about 2x the price of where it was when RH was at $10K and investors are jumping around in joy.

    It would take some balls to get in it right now, and I always warned people on here to be careful about letting it get away from them!!

    My only regret is not buying a 1oz bar when I had the chance to, because I want to add one to my collection of PGMs to look at.
    Last edited by midiman; 03-09-2020 at 03:35 PM.

  3. #43

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    I agree, the price of rhodium should be higher.

    I am not an expert but i have done some homework, just on mining out-put world wide, there is approximately 10 oz of silver mined for every oz of gold, and 8-10 oz of gold mined for every platinum or palladium mined respectively, and finally about 8-10 oz of palladium or platinum mined for every oz of rhodium mined. Which means rhodium is 1% of the gold market based on output which also means rhodium is a thinly traded market, the slightest change will cause price volatility. Car manufactures have to meet stricter emission standards world wide, but mostly in China, causing car companies to add more palladium and rhodium for gas and hybrids which use even more palladium and rhodium. Platinum has been down, a lot had to do with the VW emission scandal causing a decrease demand for platinum and diesel cars, but also caused stricter emission standards. This is why palladium and rhodium have sky-rocketed during times when car sales are falling especially in China. experts say as battery electric cars get more and more popular so will fuel cell electric cars which use PGM like platinum (around 1oz per car). Like i said, i am not an expert but the best thing you can do is do your own homework, do not panic, and invest in things you understand and are comfortable with.

  4. #44

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    also gold, silver, platinum, and palladium have a futures market, where rhodium is not and is only traded on the physical market.

  5. #45

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    these price swings are scary and interesting at the same time.

  6. #46

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    So far the Rhodium ratio as of this post:
    Gold: 9800/1520= 6.45
    Silver: 9800/14.48= 675.80
    Platinum: 9800/762= 12.86
    Palladium: 9800/1591: 6.16

    Gold & Silver: 1520/14.48= 104.97
    Gold & Platinum: 1520/762= 1.99
    Last edited by Jibron85; 03-13-2020 at 01:16 PM. Reason: Update

  7. #47

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    These swings are not good!!

    People need to hold on as there is no reason to dump RH when it is deficit!!

    Everything was going well until the Corona Virus came along and Trump made that announcement.

    It is killing the global markets.

  8. #48

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    these price swings will screw-up the miners, which could help prices when it swings back. Silver and platinum is already becoming out if stock for bullion.

  9. #49

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    Quote Originally Posted by Jibron85 View Post
    these price swings will screw-up the miners, which could help prices when it swings back. Silver and platinum is already becoming out if stock for bullion.
    What Silver lol

    Shutdown the mines, cut the distribution lines, ramp up the demand and send our metals to beyond the moon!!!

  10. #50

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    Quote Originally Posted by midiman View Post
    What Silver lol

    Shutdown the mines, cut the distribution lines, ramp up the demand and send our metals to beyond the moon!!!
    It could happen because of the price drop and if the virus gets serious in Africa, than that is a double hit and it will stop production if they don't go bankrupt.

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