Rhodium Aiming at USD 10,000/Oz
Oil and gold have rallied amid steaming tension between the United States and Iran. Crude for forward-month delivery has increased by almost 5% to more than $63 per barrel, while gold has risen by over 3% to more than $1,580 an ounce since news of the Soleimani assassination broke.
But there’s another very special commodity that’s rallying even more while quietly sitting in the background: rhodium.
What is rhodium?
- Rhodium is a member of a group of metals known as the platinum group metals (PGMs). These metals have similar physical and chemical properties and include platinum, palladium, ruthenium, iridium, osmium, and rhodium.
- Rhodium is an important industrial metal used in specialty optical instruments, electronics, aircraft turbine engines, and as a jewelry ﬁnish. If you’ve ever bought “white gold,” it’s likely you’ve bought rhodium. White gold jewelry is gold jewelry that has been electroplated with rhodium.
- The primary application for rhodium, however, is catalytic converters — specifically three-way catalytic converters that convert harmful hydrocarbon gases from auto exhaust into substances with lower environmental impact.
- Rhodium is quite rare. It’s so rare that an entire year’s worth of total world supply could fit onto the back of three pickup trucks.
- Some 80% of the world’s rhodium supply comes from South Africa, which has been a problem.
Oh! … and the U.S. Labor Department reported that initial jobless claims fell to 214,000 in the most recent weeks — a 9,000 drop over the 223,000 the prior week.
It’s still a job hunter’s market, south-of-the-border! 😉
January 10, 2019
The Challenge, of which today is Day #4.
I got a bit crazy yesterday speaking about ‘Hellz Yeah!’ only because that is a big part of me, my time, and my energy.
This my ‘Rob’s Blog’ is about much, much more. I guess it is to be more about ‘what occurs in the day’ … how those encounters are seen … a W5 of sorts.
I want this focused around Lifestyle. Holidays, and places to visit. Family, and how we meet, and overcome every day struggles. I want to show you, through these daily posts, piles of snow … the birds at the feeder … the Lambo test-drive … the coffee with friends … and of ‘the gratitude given freely’ that goes un-noticed, secretly shared with you! [not to brag] … but to give proof to everyday random acts of kindness that DO MAKE A DIFFERENCE. We want to inspire others, like you, to take a moment to breath … smile at circumstances when life has you down … and to be heard, when you speak! To listen to the faintest of voices, and to know the tears, wiped away, where failure shadows light. Can we fix everything … ‘Probably Not?’ … but we at least try. I’ll leave you with this…
January 10, 2018
January 10, 2017
What’s your hobby? I have several & with another day off … I’m about to share a few of my favorites.
I’m home sipping “moringa aleifera appetite suppressant” in my special cup. This pic to the left is before the cup is filled! Yes, the cup is empty. But it holds a secret.
I’m about to get a training call from VectorVest. It’s a stock data service that evaluates the equity markets, the trends, the timing, and the valuation of any stock I wish information on. [hobby #3]
Two pictures … one before the hot liquid is placed inside the cup … the other after. I love technology and science … [hobby #2]
I have said on many occasions, and I quote, “I use mult-million dollar satellites to find Tupper-ware in the woods.” Yes! I have a thing for geo-caching. [hobby #1]