Rhodium spot watchers thread

[ynot2k]

Well the market very rarely cooperates with me. So I bought at today's price - that's a tic on the go lower side. But I really want it to go a little lower again so I can buy some closer to yesterday's price - that's a tic to go higher. So to foil my participation the market is now likely to held steady here for a period of time

PS what are expecting to happen if it gets over $30K?

[midiman]

Well the market very rarely cooperates with me. So I bought at today's price - that's a tic on the go lower side. But I really want it to go a little lower again so I can buy some closer to yesterday's price - that's a tic to go higher. So to foil my participation the market is now likely to held steady here for a period of time

PS what are expecting to happen if it gets over $30K?

I wish I could afford to sell and buy back in but the spreads are too high for me to be day trading it. So I just hold on to what I have and watch it go up and down.

Johnson Matthey and quite a few analysts are saying that the majority of PGMs are in short supply and that the prices could well go up as the Automotive sector recovers and we come out of this pandemic.

So knows? But I would like to see it get over the $30K and beyond. Because it has been showing reluctance at crossing it.

We it can move in mysterious ways and it's not impossible if we had another day like today. It would be nice to see it get to $75K or take out $BTC by the end of the year lol.

RH has real use and is one of the rarest metals on earth.

[ynot2k]

I bought a little more on this dip. If it drops significantly I will likely add but I don't have a POR in mind, I'll just play it by ear.


Edit to add: midiman - yes the spreads are high at $2k. What got my interest this go around was the jump from 18.4 to 24.4 - which would have given 4k in the money IF bought at 18.4, which I didn't do - so I paid up at the $24.4 price. I did just buy at $20 so I expect it to drop from here as markets tend to move against me rather often.

[ynot2k]

Added a bit at 18,900. Will add again on a significant drop but again I don't have a price in mind.

It went from 18.4 to 24.4 overnight a few weeks back, I wonder if that will ever happen again.

[motocat]

Added a bit at 18,900. Will add again on a significant drop but again I don't have a price in mind.

It went from 18.4 to 24.4 overnight a few weeks back, I wonder if that will ever happen again.

What do you use for trading Rhodium? Everything Rh related seems to have buy-sell spreads that are very high -- if you know of an efficient way to trade the ups and downs of Rh spot price, many here would like to know. Thanks for any suggestions.

[ynot2k]

What do you use for trading Rhodium? Everything Rh related seems to have buy-sell spreads that are very high -- if you know of an efficient way to trade the ups and downs of Rh spot price, many here would like to know. Thanks for any suggestions.

Hello motocat - I just use Kitco pool. I got in at $24.4 some weeks ago when it went from $18.4 to $24.4 overnight, and have bought a couple or so of times since then as it went down some.

The one thing I know for sure: I am on the wrong side of trades often enough that no one should base any trading decision on what I do or don't do.

Thanks for your contributions to the forum moto.

[motocat]

Hello motocat - I just use Kitco pool. I got in at $24.4 some weeks ago when it went from $18.4 to $24.4 overnight, and have bought a couple or so of times since then as it went down some.

The one thing I know for sure: I am on the wrong side of trades often enough that no one should base any trading decision on what I do or don't do.

Thanks for your contributions to the forum moto.

OK, I guess that's the best we got, was wondering if there was a Rhodium equivalent of GLD. I've been tempted to play the Rh pool here, just that the buy-sell spread is a bit to much for me. That said, by percentage it maybe better then when Rh spot was under $10K, it's now about 11%, I recall it being much higher not so long ago.

[midiman]

OK, I guess that's the best we got, was wondering if there was a Rhodium equivalent of GLD. I've been tempted to play the Rh pool here, just that the buy-sell spread is a bit to much for me. That said, by percentage it maybe better then when Rh spot was under $10K, it's now about 11%, I recall it being much higher not so long ago.

You need big pockets to buy and sell RH at these prices because Kitcos Pool is not fractional and I can't see RH going 10x or more at these prices.

I was fortunate enough to get into it 10 years ago when it was trading around $900 - $1200 and it was expensive then.

I am now slowly investing in Crypto as the likes of BTC, XRP and ADA still have a long way to go, and they can multiply x10 in the blink of an eye.

They are my new RH for the next 10 years.

[ynot2k]

You can any amount in Kitco pool - it does not need to be full ounce.

[midiman]

You can any amount in Kitco pool - it does not need to be full ounce.

It is priced in oz.