ok, we all know that there is nothing such as "white gold". gold is not white. it is just a term used by jewelry outlets to explain why their gold ring is silvery... it is a yellow gold ring overlaid with rhodium, in most cases. in some cases, the rhodium is spread so thinly over the ring and the gold starts to show through that the owner must have their ring or whatever "overlaid" again with rhodium.
ok, if one checks kitco, you may be amazed that rhodium just a few years ago was going for about $10,000 an ounce! then it took a quick and sudden nosedive down to about $1,200 an oz., and now even lower than that today.
ok, here is the point... is there anybody here that bought rhodium on its way up or its way down, never suspecting that it would noseplant? I would imagine that several people bought it at anywhere from $2,000 to $9,000 an oz, especially on its rise.
ok, for example, if you bought it at $4,000 an oz, you are most likely not to take such a dive, as rhodium is like at about $800 an oz currently. I bought some while rhodium when it was at $1,200 an oz, in a bar shape when they finally became available... very brittle, but better than the powder form it was only available before... "hey, want to see my rhodium? yah, I know it looks like a bag of dirty grey powder, but...
so do any of you who bought it high while it was rising hope that it will rise again? I have 10 ozs myself, in 5 oz bars... dreaming of when it would be worth $100,000 again, not the roughly $8,500 it is today.
ok, so maybe I am not the greatest invester, but rhodium will have its day again... I hope... mike
here is a chart of the raise and nosedive...
http://www.kitco.com/charts/historicalrhodium.html
Posted 03/01/2017 11:38 pm
