Palladium & Rhodium Price Update (8/20/09)

Palladium & Rhodium Price Update (8/20/09)

Not much going on so we haven't felt the need for any updates of late. Gold price and silver price appeared to be moving upward a week or two ago but it's recently fallen back to "normal" levels (I'm using "normal" as the gold spot price over the past few months, although of course there is never a "normal" gold price or silver price).

Spot Palladium Price

The spot palladium price is still relatively high in comparison to "normal" gold and silver levels. Palladium is still trading in the $275-$280 range. Palladium has outperformed gold over the past month or two.

Spot Rhodium Price

Rhodium is worthy of a small discussion here because the spot rhodium price has outperformed all metals percentage-wise with perhaps the exception of palladium. Rhodium was trading around $1300 in late July and peaked at around $1575 a few days later. Rhodium then slowly rose up to the $1550 mark around August 10 and has remained steady ever since. What's interesting is that rhodium is often only reported as moving each time it takes a $50 jump. (For example, The Bullion Desk reports the rhodium price on the right site top of its site.) Since it's recently been reported as having moved more people will start noticing. However, it's been moving for a while.

Palladium & Rhodium Price Increase (08/09)

Palladium Price Steady, Rhodium Rises

I've been on vacation for the the past few weeks but I'm glad to see that the Eitan Cohen interview has gotten so much attention. Glad I was finally able to get that up before I left. I'll be on vacation again for most of August. But I'll have the computer with me and hoping to keep an eye on the palladium price and the rhodium price increase.

The Palladium Price

For a couple weeks now palladium has been on the rise and seems to be steady at around $275 an ounce. That's good news! With all the money Obama is pumping into the economy the values of gold, silver, and platinum should rise, likely with palladium and rhodium following. The palladium price

(www kitco com provides this chart for us)

From the chart we see that palladium has been on the rise for the past 30 days. I know a lot of people read this site so see my predictions. Well, my prediction on this is that Pd won't reach $300 on this rise. I wish it would though. I think it's near its peak and will drop back down to around $250 for the time being. No reason to run out and buy now.

The Rhodium Price

The rhodium price has increased like palladium. We see a quick jump from around $1300/oz rhodium to $1600. And for now it's around $1500. We'll see where this moves to in the near future. I'm thinking it will stay over $1500 an ounce Rh for a while.

The Gold Price, Platinum Price, Silver Price

The gold price has risen about $50 in the past month. That's good news. Platinum price and silver price have risen at a similar percentage. (nearly 10%) over the same time period.

Is this big news? No, not really. But if you're buying and selling the metals for small time profit taking, now might be the time to sell before the prices drops and you can buy back.