Thursday, August 20, 2009

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.

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