Loading ...Rhodium strength, anyone know why? Compare Rh to Pt, Pd, Au, Ag.
Today was another red day for gold, though there seems to have been a bit of a bounce. V-bottom perhaps? Dunno.
Big down day for palladium: -5% at one point. That’s a lot. However, it is still at a premium over platinum. I wonder why?
Gold is down in most currencies quoted on Kitco but not in all like yesterday.
Gold is down on Kitco’s main page in three timeframes again: on the day, on the 30 day time frame and the 1 year timeframe. This just started recently so the return in gold is negative over all these time frames right now.
Rhodium is up again. It’s the only metal to be up today (and yesterday I think) and has bucked the current metals downtrend noticeably, even on really bad days like yesterday. It’s not traded like the others is it, being such a rare metal with a small float. It’s interesting to see that it has tripled since its lows.
A straight swap of gold (or Ag or Pt) for rhodium in 2016 would have been pretty good.
Both platinum and palladium have industrial uses as catalysts, especially for catalytic converters. I read somewhere that palladium is used more so in automobiles, platinum more so in diesel engines such as trucks and buses. The price decline may be predicting a production slowdown of internal combustion engines in the near future.
Rhodium is the rarest of all non radio active metals. It is used as an alloying agent to increase corrosion resistance of platinum and palladium. I don’t know why the price is increasing, unless there is a supply shortage.