Rhodium spot watchers thread

[ynot2k]

I got out of what I had at 18,950, with a small profit. Had bought down a couple of times and held. Now pool is back to 14,100 and I hesitate. Not sure what I will do. Rhodium does seem to go off on it's own - either up or down - without an obvious correlation to much of anything else.

However I am an amateur at it, so there's that.

[ynot2k]

Rhodium is now down to about 50% of it's last high which was made in 2020.

Does a 50% drop in price plus quite a bit of time equal a buying opportunity?

[motocat]

What do you use to trade Rhodium? All the methods I have found have buy-sell spreads that are to high -- so if I was into trading this, I would probably wait for sub $10K or lower. If I had some efficient way, like PALL ETF I use for palladium -- I would have a number buy and sell ranges.

[ynot2k]

What do you use to trade Rhodium? All the methods I have found have buy-sell spreads that are to high -- so if I was into trading this, I would probably wait for sub $10K or lower. If I had some efficient way, like PALL ETF I use for palladium -- I would have a number buy and sell ranges.

I use Kitco pool, and yes because of the 2k spread I am waiting for 11k or lower buy price, it would then have go to 13k to break even so it is not an overly inviting trade.

After the jump to 24K from 18K overnight (a long time ago) I BOUGHT... and it took forever to finally unload it for a very very modest gain... it was not worth it and I'm glad I got out without losing. It took patience.

[jjmcwill]

Don't pay much attention to rhodium. Just realized it's down to about $6500. That is a huge drop.

Anyone here ever buy rhodium bullion? Years ago (around 2008) rhodium bullion wasnt a thing as they hadnt figured out how to do it. So you had to buy this rhodium sponge/powder.

I was wondering if A rhodium bar or round would be as easy to sell as gold or silver. I'm guessing yes.

Talk about a premium though, wow!

[motocat]

I was wondering if A rhodium bar or round would be as easy to sell as gold or silver. I'm guessing yes.

Talk about a premium though, wow!

Yes, the Premiums are horrible, especially physical. And also when the spot price went very high, you could not even sell the bars. There is no comparison even platinum and palladium -- yet gold and silver.

I no longer see it as a PM for bullion stackers -- and even the buy-sell spread on ETF's, and KITCO pool account, are way to high for my liking. Better to trade uranium and other commodities that are more common and so have more trading choices.

[ynot2k]

I was wondering if A rhodium bar or round would be as easy to sell as gold or silver. I'm guessing yes.

Talk about a premium though, wow!

Yes, the Premiums are horrible, especially physical. And also when the spot price went very high, you could not even sell the bars. There is no comparison even platinum and palladium -- yet gold and silver.

I no longer see it as a PM for bullion stackers -- and even the buy-sell spread on ETF's, and KITCO pool account, are way to high for my liking. Better to trade uranium and other commodities that are more common and so have more trading choices.

I sold the one rhodium bar I had for 18 ---- hundred, that is. Of course that was way back when.

Later I bought pool at 24k after it jumped from 18k to 24k overnight (foolish move)... thinking it might be on it's way to 30 or higher... I ended up getting out of that with about a hundred in "profit" by buying more on pull backs and selling on runs. But I was never sure if I was going to get out without a sizable loss. Just got lucky the back and forth worked out like it did at the time.

https://online.kitco.com/buy/gold-silver.html

Today pool is $5100 sell and $7100 buy. It's been there for about a week. Does that mean it has settled into a bottom for now and will head higher? I don't know. I have been thinking of pulling the trigger the whole time it's been at this price but have yet to do so. My hesitation probably means higher prices ahead and soon if I don't pull the trigger here.

[motocat]

Today pool is $5100 sell and $7100 buy.

That's a crazy spread, almost 40% premium! What if you just went into the Rhodium bullion trade business yourself, keep spreads to 1000, become the go to guy for the entire nation of those wanting to trade Rh? I myself sold two bars back to Kitco, I believe in in the $3,000 range, can't remember now, however I think I did at least double the value so some OK profit (after heaving gone through the sub $1000 dip). . I checked up on selling such bars when the price was far higher, Kitco was not buying at that point, even though they had nothing left to sell (something about refiners not taking in more bars at that point).

[ynot2k]

Now $4100 and $6100


Seems like it would have to find a bottom soon, but there is no legislation that states it cannot go back to the teens. At some point it would seem to be more upside than downside.

[maxwellsilverhammer]

Don't pay much attention to rhodium. Just realized it's down to about $6500. That is a huge drop.

Anyone here ever buy rhodium bullion? Years ago (around 2008) rhodium bullion wasnt a thing as they hadnt figured out how to do it. So you had to buy this rhodium sponge/powder.

I was wondering if A rhodium bar or round would be as easy to sell as gold or silver. I'm guessing yes.

Talk about a premium though, wow!

i bought 10 bars at $1500 on fear of loss when it was on its rise. i sold at $2200 (sold too early- it went to $26,000). i still made a $7,000 overall profit and paid my property tax that year with it. now to see it droping to todays level i am watching it again. not yet buying - just watching.