17.07.2015 - Rebounding rhodium bests nearly any other investment
The best asset over the past week is a metal you’ve probably never heard of: rhodium. Rhodium, one of the rarest precious metals, soared 29 per cent in five days, beating every single stock in the MSCI World Index, all currencies and major commodities. While the market for rhodium is tiny and doesn’t trade on an exchange, a fund that holds the physical metal is up 23 per cent since July 9, and shares of producers are climbing. Low prices are attracting companies that use rhodium for catalytic converters in cars, according to Jonathan Butler, a precious-metals strategist at Mitsubishi Corp. in London. The metal plunged to an 11-year low earlier this month on forecasts that South Africa, the biggest producer, is increasing production at the fastest pace in two decades...............................................Full Article: Source
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