Featured Trades: (AN UPDATE ON RHODIUM)
2) An Update on Rhodium. I was recently interviewed by Daniela Cambone of Kitco News, a boutique firm specializing in the online research and trading of metals. I have known the Kitco people for a long time and they are one of the class acts in the hard asset arena.
To summarize, I think that rhodium (symbol XRHO in London), which is based on the Greek root for ‘rose,’ is a major long term buy. While gold, silver, platinum, and palladium are trading at, or close to all-time highs, rhodium is still at a lowly one fifth of its record high. It is just a matter of time before rocketing demand for platinum and palladium, driven by a recovering global car industry, spills over into rhodium which can also be used in catalytic converters.
While liquidity in rhodium has been an impediment for investors until now, the launch of a new rhodium ETF by Deutche Bank could break the logjam. Those of you willing to watch my ugly mug pontificating about the long term prospects for rhodium, please click on this link at http://www.kitco.com/kitconewsvideo/, and then click on ‘Platinum, Palladium, and Rhodium outlook, July 27, 2011.
Are They a Long Term Buy?