With Rhodium prices rising to record levels its nice to know that Smokey Hills has 10% Rhodium Now there is talk that Rhodium may hit the US$8000 level by next year.
Watch PLA it will print its own money in the next 6 months....
UPDATE 1-Rhodium jumps as auto makers scramble for material Fri Nov 23, 2007 1:30 PM GMT Email This Article | Print This Article | RSS [-] Text [+] (Adds details, quotes, background, byline)
By Pratima Desai
LONDON, Nov 23 (Reuters) - Prices of precious metal rhodium have surged this week to around $6,775 an ounce, the highest levels since 1980 on strong demand from consumers in the auto manufacturing sector, traders said on Friday.
Rhodium prices are up more than 7 percent since the beginning of November and since January this year they have gained more than 20 percent.
Expectations are that prices will move towards the record high of $7,000 an ounce seen in 1980.
"Our understanding is, car makers, particularly in North America are relatively, lightly provisioned in terms of stocks," said Ross Norman, analyst at TheBullionDesk.com.
"There may be an element of stock buiding ahead of the year end ... There isn't much metal sitting out there.
Most rhodium is used by car makers in catalytic converters to limit carbon emissions, where regulations have become much stricter and contributed to rising demand for the metal. Continued...
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