Palladium and Rhodium Spot Prices

[InfleXion]

Not surprisingly thanks to the quarantine in China:

https://www.msn.com/en-us/finance/marke ... ar-BBZYpSI

Looks like it isn't a bad time to sell some. Too bad I don't have enough to be worth selling without vacating my entire Pd position, and I prefer to stay diversified.

[68Camaro]

Maybe. That's a 3 day old article, we already had a $300 pull back, and prices are back up. To just shy of the highs. As I I understand it, the metal is in short supply. Industrial users that have it stockpiled aren't going to sell even if sales are temporarily down, and the people that need it are going to buy what they need regardless of the price. Time will tell.

Like you noted - too bad I don't have a lot of it. Even though I had been gathering it for several years we're talking small amounts. It was relatively hard to find, even when prices were back in the $900 to $1000 range. If I had a stockpile maybe I would trade some for gold.

[InfleXion]

I still think we have yet to see markets fully react to the CV so far, nor have we seen the end of its impact. Palladium won't be the only thing affected by a lack of consumerism. Certainly there are enough smoke, mirrors, and financial trickery to keep those more studious than I guessing, but I have to imagine that a bigger pullback is still on the way. Not that Pd will be the hardest hit, but car markets outside of China are yet to feel the same pinch, and as far as I'm aware the plunge protection team hasn't had to step in yet. Though I'd not be the least surprised if they were front running that.

[68Camaro]

Set a new all time high today for Pd

[Cu Penny Hoarder]

Set a new all time high today for Pd

Sell some, then tell me how much under spot they give you.

[68Camaro]

Last month coin shop prices for Pd coins were running $150 under spot.

[68Camaro]

The market moves for Pd are so large in such short times that I fully get why a small operator who can't offset by working within the futures market wouldn't want to offer anything close to spot. Yesterday Pd moved up to about 2750 before moving back 100 to mid 2600s, a $100 move would hurt if you were buying much of it, and if you happened to hit the top of the market at the same time.

[Cu Penny Hoarder]

I think it's safe to say, the palladium bubble as popped...

Ouch!

https://www.finviz.com/futures_charts.ashx?t=PA&p=d1

[68Camaro]

Lopped the 3 month long nipple off for sure. Still higher than before that and I'm happy with keeping my modest position bought at half this price. Demand drives overall price and global economic issues will dictate that.

[Cu Penny Hoarder]

$1575 now - OUCH!

All bubbles pop eventually... like this asinine stock market, which I've been railing about for the last 5 years. FINALLY!

[68Camaro]

Yeah, interesting chart on kitco - 3 day scale is in two hundred dollar per tick mark increments.

On the market in general - in my view it has just returned back to something close to fair value, and if a true recession kicks in and selected industries see actual destruction of demand, then I think we've got another 30 to 40 percent to drop before any recovery might begin.

Worst case - no recovery at all and the world slides into a long-term depression leading eventually to some type of major war (because they usually do).

Hoping for the best - but there is going to be a lot of pain of many types.

[Dr. Cadmium]

After reaching an all time high of $11,500/ozt this month, the Rhodium spot priced crashed. Check out the bounce today though! Yesterday it closed at 2000, today at 4000. Anyone who bought yesterday doubled their money.

[Dr. Cadmium]

And today rhodium spot closed at 6000. Ridiculous.

[Cu Penny Hoarder]

After reaching an all time high of $11,500/ozt this month, the Rhodium spot priced crashed. Check out the bounce today though! Yesterday it closed at 2000, today at 4000. Anyone who bought yesterday doubled their money.

Perfectly normal price action.

[InfleXion]

Pd and Rhodium are too wild and elusive for me right now, though I'd be interested if anyone thinks Pd is a good buy now that it's come down a bit. Woulda been nice to have bought more at $800 years ago, but at the time it wasn't very attractive. Right now I'm looking hard at Pt being half the price of gold, a great portable option, but it's hard not to go for silver. If GSR is ~100:1 and PtSR is ~50:1, that's not a bad entry point into Pt IMO.

[68Camaro]

Other than Ag (for those with the physical space to store it - and if you can find it with minimum premium) I believe Pt is the best deal, of the higher priced PMs. Premiums for physical Pt are a bit high, but I'm willing to accumulate more Pt for the right form and price. Industrial use does drive demand but production is low and several sources have suspended operations for a time due to covid19. And there isn't much of it in the world. I've added a few toz since the start of the year.

[Dr. Cadmium]

Rhodium spot price is $13,200/toz right now!

[68Camaro]

$1575 now - OUCH!

All bubbles pop eventually... like this asinine stock market, which I've been railing about for the last 5 years. FINALLY!

Ooops - it wasn't a bubble. Pd is $2337 this morning, and being over $2000 is the new long-term norm for Pd.

And Pt is now re-approaching $1300, and is still undervalued at that price.