Do not buy gold or silver, buy this instead

Kitco is sold out of rhodium.
So someone is buying it.
This happened when palladium dropped well below 200 an ounce. The retailers ran out or stopped selling it.

 

It sure wasn't me.

 

Wasn't me either.
I am still waiting to see how low the price goes.

 

Price on the metal is up $10 over the last 3 days then today liberty lowers the retail on ounce bars by $5 and rhodium sponge by $10.
There is a $350 difference between 10 ounces of rhodium sponge (10 is the minimum order) and two 5 ounce bars.
I am thinking about just buying sponge since when it comes time to sell the bid will be the same if its sponge or bar. Bar can demand a slightly higher price in some instances.

 

Liberty drops the 5 ounce bars $80 to $3,720 and drops the price on the 1 ounce bars by $5.
All while the bid is up to $10 more to $595/ozt.

 

if you take delivery of sponge they will probably not give you spot .. more like spot -10% and that's if the seals are intact.
if you break the seal, you'll probably only get 80% spot price and then deduct an assay fee to ensure the quality of the sponge.

Seriously though, it seems like a racket to me. you buy their product, keep it at their facility, and sell it back to them later.
If it all goes sideways and they go bankrupt, if you stored it there .. you are out. if you took delivery who can you sell it to.

The pm dealers around me just laugh when I mentioned Rhodium and say they won't touch it. Makes me wonder.

 

The PM market might seem like a racket but its really more of a cartel. Unless you think of PMs as having no value what so ever and are only valuable because value is assigned to them by people, then it is a racket and a cartel.

I don't have anyone store anything for me. I have said many times in other posts having someone else store your PM for you is dumb. Unless you are rich and your lawyers and accountants are telling you to store it somewhere else, likely overseas (dilemmas I wish I had).

I can sell back to liberty, eagle coin, kitco maybe and others like apmex will have to contact them first.
All the brick and mortar PM dealers didn't want my palladium. I ended up selling the palladium back to apmex and it still paid off big time, only regret is that I didn't buy more.

 

They dropped the price of the 5 ounce bar by another $70 to $3650 and the 1 ounce bars by another $5 to $760.
The bid price seems to have leveled off, its back down to $585.

 

Not much has happened with rhodium in the last 6 or 7 weeks aside from the price jumping up $35 in 2 days and the price on the 5 ounce bar dipping $50.
Looks to me like market manipulation by the retailers to boost holiday sales.
I spent one and a half 5 ounce bars worth of rhodium on a used car. And another bars worth on a new gun and surprise trip to maine when my dad died very unexpectedly so there went most of what I was going to use. Oh well It's only money, I can always get more. It doesn't look like the price of rhodium is going anywhere in a hurry, which is typically exactly what it does.
In other news platinum is at about a 5 year low. The interesting thing about platinum is its never really had a dramatic price crash like just about every other precious metal so if platinum keeps falling it things could get very interesting.
Silver has recently dipped to around 17.50 an ounce, making it so you can get it for less than $20 an ounce delivered depending on where and how much you buy. It doesn't really appear to be a buyer or sellers market right now. Obviously if the price drops any lower it will be come more of a buyers market. If the price goes back up to 20 they will start running advertisements telling you how it's a great time to buy silver when the price is at a 2 or 3 year high. Trust me, buying silver at a market price of 20 an ounce is only good for them. And the major silver dealers don't even really offer any steep discounts on shipping or spot fees when prices are high.

 

Well I put my money where my mouth is.
The other day I locked in a single 5 ounce bar for $3,900. It should be here in a few more weeks. I would have liked to have bought more but I suffer from self control and I spent a good chunk of coin fixing up my wife's car to keep her from buying a new one. A wind shield, 100k service, 97% hail dent removal and fresh paint on the bumper, hood, mirrors and a door set me back about $4,600. Which sounds like a ton of money to spend on an 8 year old car but the way i see it that saves $10,000, because $4,600 is only about 7 to 10 months worth of car payments and the price difference for full coverage insurance then when you buy a new car you lose around another $5,000 in depreciation in the first year of (non)ownership.
Then I had both hot water heater in my house start leaking with in a week of each other, upgraded one to a tankless.
So I spent a lot of money I was kind of saving to blow on rhodium.

 

They are shipping it to me.
IMO "having it stored" somewhere not under the owners control is stupid, unless you have lawyers or accountants telling you otherwise.

 

Yes I really did buy some.
Now the price just needs to go up so I can trade it for what I really want.

Took forever to come in with the traditional holiday logistical overload.

 

Well the rhodium bid is well above what I paid for it already.
I have have a feeling I will regret not buying more.

 

With bid being 10.00 over your purchase price you are at least in the black if you sell.
the 100 dollar spread between bid and ask and narrow market makes me leery of this shiny metal.

 

The normal price for rhodium is no less than $1,000 an ounce.

 

The bid for Rhodium hit $900 today.
Starting to feel like a dumb as for not buying 2 bars.

 

Palladium is going for spot on apmex.
At $800 an ounce I have zero interest in it as far as buying. 800 is a normal upper median price.
My guess is they think it's going down in the near future and going to stay down.
Palladium is kind of interesting, it can go crazy, suddenly shoot up like gold or crash and burn like rhodium. Other times it will slowly slip lower and lower as gold will do when the stock market is doing really well.
My buy trigger is around 400, delivered.
800 is my sell trigger. I sold all mine a few years ago when the bid was $813. My palladium inventory is 0 besides what's in my cars catalytic converter.
I wish palladium would crash again, it has treated me very well.

 

That would suck for me if it happened right now.
The average price I paid for all my gold was $900 to $1,000 an ounce so I can't complain.
What I would like to do is cash out when gold peaks, then buy back in when it goes low and I'm only talking about a $100 to $150 price change per ounce over a 4 to 6 month period. Adding 2 to 3 ounces each high/low cycle, but this only happens once every year or so.