rhodium in lcd screen pricelist

On May 19, 2011, Deutsche Bank issued db Physical Rhodium ETC securities.Johnson Matthey recently (Nov. 15, 2011) forecast that the metal will remain in surplus (by 123,000 troy ounces (one troy ounce (oz) = 31.10 grams)) in 2011, and now its price has fallen from a "stratospheric" level of over $10,000/oz in June 2008 to "languish" around $1,700 (midprice on Nov. 30, 2011), somewhat lower than that of gold. So, what"s with rhodium?

The platinum group metals, or PGMs, of which rhodium is one, are a group of six metals clumped together pretty much in the middle of the periodic table. The others are iridium, osmium, palladium, platinum and ruthenium. The metal, which is extremely difficult to separate from the other metals with which it naturally occurs (including the other PGMs), is always produced as a byproduct of the extraction of these others; no such thing as a rhodium mine exists.

The English chemist, William Hyde Wollaston discovered the metal in 1803, soon after he discovered palladium and around the same time Smithson Tennant (also English) discovered both osmium and iridium. The rarity of the metal, the fact that it is a byproduct, and the complexity of (and costs involved in) its extraction have all, historically, contributed to robust pricing over the last 80 years, and especially in the last couple of decades.

An autocatalyst, which sits inside a motor vehicle"s catalytic converter (itself placed between its engine and muffler), is a metal, or ceramic, honeycomb coated with PGMs (of which rhodium is one) and various chemicals.

In gasoline-poweredvehicles, the autocatalyst converts over 90 percent of the carbon monoxide, oxides of nitrogen and unburned hydrocarbons into carbon dioxide, nitrogen and water vapor (often appearing as drips from out of the auto"s muffler). In diesel-powered vehicles, in addition to the equivalent amounts of hydrocarbons and carbon monoxide that are converted to more harmless compounds, so too is 30-40 percent of the potentially carcinogenic diesel particulate matter.

Since the first production vehicle was fitted with a catalytic converter back in 1974, their use has flourished and now catalytic converters are fitted to over 85 percent of all the new vehicles sold each year worldwide.

To put the effects they have in context, back in 1960, a gasoline-powered vehicle would typically, for every mile driven, spew out 100 grams of carbon monoxide, hydrocarbons and oxides of nitrogen. By 2004, this had been reduced to just some 2 grams, and autocatalyst development continues today.

Rhodium, because of its hardness and both its resistance to corrosion and high melting point (higher than that of platinum), is currently used in three main types of glass manufacturing, that of: thin-film transistor liquid crystal display (TFT-LCD) panels, glass fibers and, increasingly, in solar photovoltaic (PV) panels.

In the manufacture of TFT-LCD panels (used in TVs, monitors and displays), platinum and rhodium are used to line the channels, melting tanks and stirring cells, not only because they can withstand temperatures up to 1,650ºC, but also because they are inert. This last is of particular importance, as the glass substrate cannot contain any charge-bearing particles that may interfere with the function of the TFT laid down on it.

In the manufacture of glass fibers, the molten glass is drawn through an array of many tiny, uniform, orifices or nozzles, set in what is called a bushing — essentially just a box out of which they stick. These nozzles are made of a platinum/rhodium alloy.

Finally, rhodium is also used in the manufacture of the glass used in solar panels, which are required to be as defect free as possible and "highly transmissive."

In the chemical industry, rhodium catalysts are used in the production of aldehyde, which, with hydrogenation, leads to an oxo-alcohol, and in the production of acetic acid using the Monsanto process. (According to Johnson Matthey, the rising demand for rhodium in the chemical sector is being driven "by downstream demand for paints and adhesives, particularly in China.")

It will come as no surprise that by far the largest producer of rhodium is South Africa, which, in 2011, is forecast to produce some 650,000 oz out a total global supply figure for the mined metal of an estimated 768,000 oz. Recycling of autocatalysts is anticipated to amount to some 260,000 oz in 2011.

Source: Forecast production figures from Johnson Matthey, who notes that: "Supply figures represent estimates of sales by the mines of primary pgm and are allocated to where the initial mining took place rather than the location of refining."

Since primary rhodium is produced only alongside other PGMs, on the mining front, anyway, no rhodium mining "pure play" exists. And the big rhodium producers are, therefore, necessarily, the big producers of the other PGMs.

Investors can invest directly, buying the physical metal in ingot or as sponge, and "directly" through, e.g., Deutsche Bank"s Physical Rhodium ETC, this last giving the investor an entitlement to the physical metal.

As to the rationale behind an investment in rhodium, there a number of factors that should be carefully considered. Some of the more obvious are: Rhodium is, first and foremost, an industrial metal — with all that implies

There is also one other aspect of investing in rhodium (and some other industrial metals) that should be considered. While, according to Johnson Matthey, net inflows (to late September) to the Deutsche Bank ETC accounted only for about 14,000 oz, were such inflows to become significant, then any investment decision would need to factor in such demand, in addition to that from industry. This can only add further complexity to the investment process.

LONDON, Jan 10 (Reuters) - Prices of precious metal rhodium surged to a record high of $7,025 an ounce on Thursday as consumers in the glass-making and auto industries scrambled for scarce supplies, traders said.

Dealers said rhodiumwas quoted at $7,000/$7,050 an ounce, a gain of more than 25 percent since January last year and compared with the previous record high of $7,000 seen in 1980. On Wednesday it was quoted around $6,975/$7,025 an ounce.

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.

Traders say that has been a major factor behind rhodium’s price rise over the last two years. Another is growing demand from glass makers ramping up production of flat panel screens used for televisions and computers.

South Africa is the world’s biggest producer of rhodium, which is a by-product of platinum. Supply disruptions in the country in recent months also have boosted rhodium prices.

During the manufacturing process, the molten glass is fed through a trough that is made out of the alloy, which can stand extreme heat and won’t melt.

Last December Corning announced capital expenditure between $1.5 billion to $1.7 billion to build additional capacity to meet growing demand for large flat-panel televisions.

“We expect that the LCD glass market will continue to grow into the next decade,” said James B. Flaws chief financial officer at Corning said on the company’s website.

Corning has previously said that it expects the overall LCD glass market to reach 1.7 billion square feet of glass in 2007 and to grow again by at least 400 million square feet in 2008.

People are buzzing about rhodium these days, for some very compelling reasons. One is that rhodium is trading at a very high price, currently $9,500 on the London Fix. Compare that to gold, which is trading for $1572 or even palladium, which is trading at $2181.

But even more important, the trading price of rhodium is surging. According to Bloomberg, the price of rhodium has increased 12-fold in the last four years, and also shot up 31% in January 2020 alone. That’s not a typo, it really increased by 31% in just one month.

That kind of surge in pricing is music to the ears of anyone who likes to invest in precious metals. And even though rhodium is among the scarcest of all precious metals, it is used in many applications. That means that finding rhodium scrap is not impossible at all. And if you find rhodium scrap and send it to Specialty Metals Smelters and Refiners to be processed, you and your wallet could be in for a very pleasant surprise. The way rhodium prices are headed, you might want to hold onto your scrap in the coming months and even years because prices seem to only be going up.

With rhodium trading for such high prices, even very small amounts can be worth a lot of money. How can you find out whether your scrap contains it? Simple answer, call Specialty Metals Smelters and Refiners at 800-426-2344, tell us what you have, and ask about having your scrap tested to determine whether it contains rhodium. Even if it doesn’t, it could still contain platinum, palladium and other valuable metals, so you stand to profit.

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Metals Daily brings you the fastest, free source of Live PGMs prices in all major currencies 24 hours a day. Live Spot Prices for PGMs in ounces, all in real-time in 40 currencies. Our fast loading Live PGM price charts update every second to provide you with the most up to date and accurate Live PGM prices in the UK. You can use our Live Interactive PGM charts to track past performance in all the major currencies. If you are interested in investing in PGMs then click here to view our complete range of PGM products available at our online shop.

Rhodium is a precious metal that belongs to the platinum group. It is a very rare and expensive element that is extracted from native platinum. A well-known property of the metal is its ability to break down certain substances into their simplest components in a gaseous state. It is known for its high chemical stability to aggressive environments: in this respect it surpasses many other elements.

Wollaston dissolved raw platinum in aqua regia and neutralized the excess acid with caustic soda. From the neutralized solution he covered platinum with ammonium chloride and palladium with mercury cyanide. The filtrate was treated with hydrochloric acid to remove the excess mercury cyanide and evaporated to dryness. The residue treated with alcohol turned out to be a dark red rhodium-sodium salt powder. The rhodium was recovered by heating this powder in a stream of hydrogen.

The largest reserves of rhodium there are today, Mexico (43%) is the frontrunner in terms of gold deposits, as its gold sands are oversaturated with rhodium. This is followed by the South African, Colombian and US supplies.

South Africa is the largest exporter of rhodium (80% by volume). The second largest production country is Russia (11,9%), followed by Canada and Zimbabwe.

The extraction of rhodium from the obtained macro shafts is carried out in an artisanal way (mining). It is complicated by the composition of the ore: the metal is associated with gold, palladium, platinum and copper.

The next step is metallurgy. The concentrated mixture is immersed in an oven and heated to 1500 ° C. The old rock is burned and the slag is removed by blowing it out. The concentrate content rises to 1400 g / ton. -

A solution left over from the platinum refining process is used to release the rhodium. After treatment with chemicals and incineration, the result is almost pure rhodium metal.

Research is currently being carried out on several technologies in order, among other things, to recover rhodium from hazardous waste residues from nuclear power plants. These very cost-intensive new technologies enable a greater production potential of rhodium in the future than from conventional mining. Furthermore, problematic storage of nuclear waste would be reduced in this way.

Iridium or platinum alloys are contained in precision instruments that can measure temperatures of up to 2200 ° C (for example in catalytic converters).

A platinum / rhodium alloy reduces the formation of nitric acid. Such an alloy is used to manufacture exhaust gas neutralizers for motor vehicles. The automotive industry is the main user of rhodium.

They are used to coat mirror surfaces and ultra-precision instruments. This is thanks to the fact that the surface reflects 80% of the light in the visible range of the spectrum and is not clouded by Superfine.

In radio technology, it is mostly not used for the manufacture of components because it is too brittle and unstable. Radio components are simply coated with rhodium. The contacts (reed relays) of the RPS 55 (A), for example, are coated with rhodium.

Electronic engineer of computer technology. Maintenance computer cpu hardware upgrade of motherboard component. Pc repair, technician and industry support concept.

This electronics is developing into an important area of ​​application. The metal is used in filters on LCD monitors (TVs, laptops, iPhones and other devices).

Silver band for engagement with gem for female Cropped of diamond luxury jewelery bijouterie ring from white gold or platinum with gemstone. 3D rendering on black background New collection of jewelry

It has been proven that rhodium compounds are highly toxic carcinogens. However, the amount of rhodium in certified jewelry is harmless to human health.

An alloy of rhodium and copper (or zinc), which is dissolved in hydrochloric acid, filtered and dried, results in a powder. This is because it is a compound that can detonate under normal conditions.

The global rush reached its peak at the end of 2008: At that time, up to 10.1k dollars per troy ounce were in demand on the foreign exchange market, which was ten times more than gold at the same time.

In the last period (December 2019 - December 2020) the price per gram has tripled: from $ 150 to $ 500. In other words, the price was around $ 2021 for an ounce in December 14.100. The all-time high of rhodium was recorded in May 2021 at USD 29.100 per troy ounce.

As with other precious metals, the price of rhodium fluctuates. In the long term, however, it will continue to grow. Science, manufacturing and technology will not do without this metal. However, production capacities are limited and global deposits are finite.

Rhodium is an incredibly popular precious metal for many reasons. Its biggest draw is arguably the fact that it is trading at an extremely high price, currently over $18,000 per troy ounce, according to Johnson Matthey prices.

We hope this infographic helped you think of a couple places you might have rhodium scrap. If you do find any, be sure to sell it to a precious metals refiner like Manhattan Gold & Silver. We offer some of the quickest and fairest payments in the industry with a thorough assay process.

General: Electronic scrap is a very inhomogeneous recycling material. In this case, purchase prices are based on the metal contents contained, whereby the respective gold, silver, palladium and copper contents vary from component to component, from PCB to PCB and from chip to chip, which means that we specify sorting criteria for e-scrap price groups in order to calculate fair purchase values. All batteries must be removed. Our purchase prices are automatically adjusted several times a day to the current metal quotations.. For larger quantities of identical PCBs or components from industry, we calculate individual purchase prices based on sample submissions after we have determined the individual metal contents in our laboratory.

Class 1-A PCBs are old PCBs with galvanically gold-plated contacts / connector strips, very many small and densely placed chips, mostly from old mainframe computers / servers. The circuit boards must not be stripped, attachments such as metal sheets, frames and heat sinks are removed.

Class 1-B PCBs are PCBs from computers / industrial equipment which have visible gold-plating and numerous chips / transistors and plug-in contacts containing precious metals. In the case of motherboards / plug-in cards (sound + graphics cards), only old circuit boards manufactured before 2000. Metal sheets and heat sinks are removed, as are batteries.

Class 1-C PCBs are colourful motherboards without attachments from computers (yellow, blue, orange, purple, also green PC motherboards, graphics cards / sound cards manufactured from 2020 onwards / starting from Pentium4 / AMD Athlon PC generation). They also include Class 1-A and 1-B PCBs from which ferrous and aluminium attachments such as metal sheets and heat sinks have not been removed, or from which components containing precious metals such as chips have been removed.

Class 2-A PCBs are PCBs from industrial equipment which, however, unlike class 1 PCBs, have hardly any visible gold contacts. The circuit boards are equipped with small chips containing precious metals, transistors and quartz crystals, but must not contain any components (heat sinks, transformers, capacitors) larger than a thumb. Also included are class 1-C PCBs with attachments.

Class 2-B PCBs are PCBs from industrial equipment which, however, unlike class 1 PCBs, have hardly any visible gold contacts. The circuit boards are equipped with only a few chips containing precious metals, transistors and quartz crystals, and may occasionally contain component attachments such as heat sinks, transformers or relays.

Class 3 PCBs are boards with large components such as capacitors, transformers, heat sinks and only a few components / chips or contacts containing precious metals. They originate mostly from monitors, power supply controls or consumer electronics. They also include class 1-And 2 PCBs if they contain very large / heavy attachments.

Rear walls are the connector strip board of a mainframe computer / server. The price depends on the gold content or whether the contact pins are completely gold-plated or only the tip, on the coating thickness, the weight or thickness of the base plate, and on whether all attachments such as metal frames have been removed.

Computer plugs or PC plugs are connectors with light gold-plated contacts for monitors, printers, internal computer cabling, which have been cut off from the cable or ribbon cable close behind the plug housing.

Info: Special connectors with considerably higher-quality gold plating, such as those used in industry, correspond to Class I PCBs up to and including rear walls in terms of their purchase value.

Gold plugs are connectors with heavily gold-plated contacts / pins, usually with light plastic housings, and mostly from military, aircraft equipment or very old electrical equipment. The gold content in these plugs is significantly higher than in normal PC plugs.

Mobile phone PCBs or circuit boards from mobile phones / smartphones with high-quality gold contacts (e.g. for SIM cards) and components containing precious metals.

Info: Prices for assembled mobile phone circuit boards only, mobile phone PCBs without components are valued according to their precious metal content.

Old group A mobile phonesHandys are standard mobile phones with dial keypad and small display. The circuit boards contain precious metals and other recyclable material. As some of the housings are difficult to open, we also buy them unassembled. Only the battery has to be removed. The cover must be removed to facilitate inspection.

Old Group B Smartphones are mobile phones with touch-sensitive screens and often equipped with digital and video cameras. The components and PCBs contain precious metals that can be recycled. Since the housings are sometimes difficult to open, we also buy smartphones unassembled. Only the battery has to be removed. The cover must be removed to facilitate inspection.

Old laptops / notebooks contain precious metals in the installed components and PCBs that can be recycled. As some of the housings are difficult to open, we also buy them unassembled. Only the battery has to be removed. If possible, the screen should also be removed. There are differences in the purchase price.

Ceramic CPU Goldcap processors as well as old 286, 386 or 486 ceramic processors from computers / industrial computers without attachments such as fans or heat sinks.

Plastic CPU processors from computers / notebooks / industrial computers without attachments such as fans or heat sinks. The colour is mostly black, green or brown.

Plastic CPU processors with cooling plate from computers / notebooks / industrial computers with attachments like fans or heat sinks / cooling plate. The colour is mostly black, green or brown.

RAM / main memory from computers / industrial computers. A distinction is made between two typesRAM gold edge, where the terminal contact strip is gold-plated.

Chips / Eproms / ICs from computers / industrial computers. For normal black chips, a distinction is made between the following types:Ceramic chips, ceramic e-proms

Special chips / components, telephone chips, bank card chips, SIM cards, etc. For larger quantities, price calculation according to precious metal content.

Old optical data storage media are CDs, DVDs and Blu-Ray discs that are no longer used, scratched or no longer readable. The carrier discs are mainly made of polycarbonate, a valuable raw material for the plastics and chemical industry. For this reason, optical data carriers can be recycled and sent for reuse. Only data carriers without sleeves are accepted.

Relays: Switching contacts with copper coil and contacts containing precious metals or contact rivets made of a silver alloy, silver-palladium, silver-gold-plated or Au-Ni, Ag-Ni, etc.

Components / contacts: Other contact materials containing precious metals, contact rivets / punched strips or components such as reed relays, quartz crystals, transistors, resistors. The composition of the precious metals in these materials is too variable to allow the calculation of flat-rate purchase price groups. In this case, the remuneration or the value determination is carried out according to the metal content evaluation.

Non-ferrous metals / special metals: Non-ferrous metals / special metals from the recycling of electronic scrap or as production residues from electronics manufacturers can be, for example, copper, brass, aluminium, tin, lead, tantalum, molybdenum, indium etc.. In this case, daily purchase prices may apply that are strongly dependent on the quantity and purity of the metal type.

Info: As a precious metal recycler and trader, non-ferrous metals are not the main focus of our ESG activities. In the case of non-ferrous metals, from the perspective of transport costs, the best solution may be to sell them to a local scrap dealer.

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Jean Bentley is a retired nurse from St. Paul, Minnesota, who, back in January, picked up a shift at a nearby clinic that was short-staffed for the day.

Bentley knew immediately what that noise meant. She had friends and neighbors who also had catalytic converters sawed off their cars. She had insurance to get it fixed, but her deductible was $1,000.

“So I just had to bite it. You’ve got to get it fixed. But it’s a shame, you know, when you’re trying to work extra shifts and help out, and then you’re paying extra money instead of saving,” she said.

Thieves have been stealing more and more catalytic converters across the country over the past year, from St. Paul to Los Angeles to Dallas, as the value of the precious metals they contain skyrockets.

According to the National Insurance Crime Bureau, in 2019, on average, 282 thefts were reported each month. Last year, that number jumped to about 1,200 per month.

Catalytic converters contain trace amounts of precious metals, including platinum, palladium and rhodium, which in early March hit nearly $30,000 per ounce.

“The problem is that they’re just worth so much,” said Paul Dauenhauer, a chemical engineering and materials science professor at the University of Minnesota. “We think of platinum as more valuable than gold. But rhodium is 10 times more valuable than platinum. So in the end, even if [there’s] just a small amount of metal in a catalytic converter, it’s just worth so much per ounce.”

Catalytic converters are muffler-shaped devices installed on the undersides of vehicles. When cars and trucks burn gas, the exhaust has harmful contaminants in it, including nitrogen oxide, which is the stuff that causes acid rain. Catalytic converters break down those compounds before they’re released into the air.

“And we need that to happen really fast because you can imagine that the gases leave the engine very fast and come out the exhaust pipe,” said Michael Moats, a professor of metallurgical engineering at the Missouri University of Science and Technology. “So we need to have highly active metals to promote those chemical reactions.”

And the best metals to do that are the platinum-group metals, which also include palladium and rhodium. As the prices of those metals have soared, catalytic converter thefts have spread across the country, even to Rolla, Missouri, where Moats lives. It’s about 100 miles outside St. Louis.

“We’d frequently see reports where an officer would pull over a vehicle for a traffic violation. And one thing would lead to another, and they’d find a trunk full of catalytic converters, and a Sawzall and jacks, and things like that,” said St. Paul Police spokesperson Steve Linders. He said reports of thefts have tripled in the first two months of 2021 compared to the same period last year. “Unless we catch them in the act, there’s not a lot we can do.”

In the meantime, a lot of car owners, including Jean Bentley, are taking matters into their own hands and having specialized locks installed under their cars to deter thieves.

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Gold is globally respected throughout the world for its value and significant history as a part of many cultures for thousands of years. Gold has been seen as a special and valuable commodity with coins containing Gold appearing circa. 650 B.C. and the first pure Gold coins were minted during the reign of King Croesus of Lydia around 550 B.C.

People have continued to hold Gold for a variety of reasons throughout history. Societies and economies have placed a value on Gold, ensuring it’s continued worth. Gold is the metal we collectively fall back on when other currencies or monetary systems fail; and therefore it provides a legitimate and time-tested insurance against such unpredictable times of crisis. Owning gold can act as a hedge against inflation and deflation alike, as well as a good portfolio diversifier. As a global store of value, Gold can also provide financial cover during geopolitical and macroeconomic uncertainty.

Gold is an important part of a diversified investment portfolio because its price increases in response to events that cause the value of paper investments, such as stocks and bonds, to decline. Although the price of Gold can be volatile in the short term, it has always maintained its value over the long term. Through the years, it has served as a hedge against the erosion of major currencies. Gold is a unique asset in so far as it is highly liquid, yet scarce; and it is as much a luxury good as it is an investment. Physical Gold is no one’s liability and carries no counterparty risk, both very attractive attributes in times of crisis.

Unlike paper currency, coins or other assets, gold has maintained its value throughout the ages. People see gold as a way to pass on and preserve their wealth from one generation to the next. Since ancient times, people have valued the unique properties of the precious metal. Gold doesn’t corrode and can be melted over a common flame, making it easy to work with and stamp as a coin. Moreover, gold has a unique and beautiful color, unlike other elements. The atoms in gold are heavier and the electrons move faster, creating absorption of some light; a process which took Einstein’s theory of relativity to figure out.

Generally the markets seem to focus solely on the loss of purchasing power of the US dollar as one of the world’s most important reserve currencies, when the value of the dollar falls against other currencies this often prompts people to flock to the security of Gold, which causes Gold prices to rise.

This is not actually correct as the US$ in 1998 was trading at exactly the same value versus global currencies as of today in 2021 (DXY Index charts) while Gold has risen over 7 times in value in that same time frame versus US$.

What has to be taken into consideration is the global monetary aggregate expansion of sovereign currencies which gives you forward guidance in inflation or more accurately the loss of purchasing power and ongoing debasement of Fiat paper sovereign currencies.

Gold has historically been an incredible holder of purchasing power versus currencies which consistently lose value over time. The market will highlight that Gold is a reliable hedge against inflation but this is not entirely accurate. Between 1980 and 2002 we had very high compound rates of headline inflation and yet Gold fell in value against currencies for over 20 years. Gold is rather a crisis hedge and a fantastic holder of purchasing power over very long periods of time. Gold tends to rise very dramatically and corrects its under-priced situation in times of crisis and hence recognizing where we are on the macroeconomic cycle is of paramount importance. Over the past 50 years investors have seen Gold prices soar and the stock market plunge during high-inflation years. This is because when fiat currency loses its purchasing power to inflation, Gold tends to be priced in those currency units and thus tends to arise along with everything else. Gold is also seen as a good store of value so people may be encouraged to buy Gold when they believe that their home currency is losing value.

Deflation is defined as a period in which prices decrease, when business activity slows and the economy is burdened by excessive debt, which has not been seen globally since the Great Depression of the 1930s (although a small degree of deflation occurred following the 2008 financial crisis in some parts of the world). During the Depression, the relative purchasing power of Gold soared while other prices dropped sharply. This occurs when people choose to hoard cash, and the safest places to hold such cash is in Gold bars and coins.

Gold retains its value not only in times of financial uncertainty, but in times of geopolitical uncertainty. It is often called the “crisis commodity,” because people flee to its relative safety when world tensions rise; and during such times, it often outperforms other investments. For example, Gold prices experienced some major price movements this year in response to the Covid-19 crisis. Its price also often rises the most when confidence in governments is low.

Much of the supply of Gold in the market since the 1990s has come from sales of Gold bullion from the vaults of global central banks. This selling by global central banks slowed greatly in 2008 and since 2010, 22 central banks have been buying Gold in record annual amounts. At the same time, production of new Gold from mines had been declining since 2000. It can take from 5 to 10 years to bring a new mine into production. Generally speaking, a reduction in the supply of Gold increases gold prices.

Historically, increased wealth of emerging market economies boosted demand for Gold. In many of these countries, Gold is very much embedded into the culture. In China, where Gold bars are a traditional form of saving, the demand for Gold has been steadfast. India is the second largest Gold-consuming nation in the world; it has many uses there, including jewelry. The Indian wedding season in October is traditionally the time of the year that sees the highest global demand for Gold.

Demand for Gold has also grown among investors. Many are beginning to see commodities, particularly gold, as an investment class into which funds should be allocated and properly diversified. SPDR Gold Trust, became one of the largest ETFs in the U.S., as well as the world’s largest holder of Gold bullion recently.

The key to diversification is ensuring that investments that are not closely correlated to one another; Gold has historically had a negative correlation to stocks, property and other financial instruments.

Unlike Gold, the price of Silver swings between its perceived role as a store of value and its role as an industrial metal. Price fluctuations in the Silver market are more volatile than Gold.

So, while Silver will trade in approximate unison with Gold as a hoardable commodity, the industrial supply/demand picture for the metal exerts an equally strong influence on its price.

The industrial equation fluctuates with new innovations. The rise of a vast middle class in the emerging market economies created an explosive demand for electrical appliances, medical products, and other industrial items that require Silver. From bearings to electrical connections, mobile phones, digital cameras, computers and iPhones, Silver’s unique properties have made it a highly desired commodity. Silver is also used in batteries, superconductor applications and microcircuit markets.

Silver’s price is affected by its multitude of applications and is not just used in fashion or simply as a long term store of value. It is the second most-consumed commodity after oil, and there is no substitute for Silver on the periodic table given it’s highly unique properties.

This enormous industrial demand, partly responsible for pushing prices up, will not diminish as the Silver price rises because this metal is used in very small quantities in each product. Even a substantial increase in the price of Silver will not cause industrial demand to fall. Contrary to Gold (which can be recycled), Silver, once consumed, is almost entirely destroyed, at present.

If we consider the historical trend over millennia, the price of Silver should be $118/oz today (Gold price divided by 15). On January 20th, 2015, its price was $18/oz. Silver is one of the very few commodities trading at less than it did in 1980.

Silver is used extensively in the photovoltaic (solar) industry. With zero-carbon emission targets globally embraced, countries seeking to increase their renewable energy production capacities will invariably consume more Silver.

Monetary demand is added to the industrial demand: Silver has been considered a form of money for centuries, and the destruction of currencies’ purchasing power (as money printing aggressively continues) is contributing to Silver’s return as a critical element of a stable monetary system.

As the price of Gold increases, it becomes unaffordable for millions of people (especially in Asia). This is not the case with Silver. Millions of people will rush to this metal as they witness the destruction of paper currencies’ purchasing power. This global demand wasn’t present during the last major Gold and Silver boom of the 1980’s, so this could play a very important role.

One phenomenon must be taken into account to understand the potential for Silver: There are enormous short positions on the Silver market. With Silver prices going up, investors and traders holding those positions will have to cover, which will accelerate the rise in price dramatically.

As with Gold, many Silver “paper” certificates have been sold without enough physical Silver in reserve to actually satisfy eventual delivery to all holders of such “paper” certificates. This abundant “paper” offer has contributed to limiting the increase of Silver prices for years by taking attention away from the physical market itself. But this rush towards tangible assets (and physical Silver in particular) will make those paper certificates (ETFs etc.) explode, along with the price of Silver. One should only invest in and own Silver in its physical form.

Like Gold and Silver, Platinum is traded around the clock on global commodities markets. It often tends to fetch a higher price (per ounce) than Gold during routine periods of market and political stability because it is much rarer. Far less of the metal is actually extracted from the ground annually.

Platinum has seen a huge surge in popularity among investors. Unlike Gold, Platinum has not been mined for thousands of years. Thanks to its higher boiling point and the fact that it rarely occurs in its natural form, Platinum wasn’t discovered until 1735.

Over 73% of the world’s Platinum comes from mines in northern South Africa where extraction is extremely challenging, especially from super-heated magma mines deep below the earth’s surface. Platinum is rarely found in isolation, it is more usually found alongside other base metals such as nickel, copper and chrome. Therefore, deposits discovered underground must be refined before they can be considered pure and the complexity and cost of this process makes Platinum extremely rare.

Platinum has a silver appearance and it is extremely hard. While jewellers value its malleability, it’s also ductile, rigid, dense and extremely unreactive.

Like Silver, Platinum is considered an industrial metal. The greatest demand for Platinum comes from automotive catalysts (about 40%), which are used to reduce harmful emissions. Following their inclusion in catalysts, jewelry accounts for the majority of demand. Petroleum and chemical refining catalysts as well as the computer industry use up the rest, and it is also found in everything from fertilisers to pacemakers.

Because of the auto industry’s heavy reliance on metal, Platinum prices are determined in large part by auto sales and production numbers. Increasing requirements by “clean air” legislation will require automakers to install more catalytic converters, raising demand. Carmakers have started turning to recycled auto catalysts or using more of Platinum’s reliable sister group metal, Palladium. When the price of Palladium rises, substitution into Platinum will occur.

Platinum mines are heavily concentrated in only two countries, South Africa and Russia. This creates greater potential for cartel-like action that would support or even artificially raise platinum prices or indeed for geopolitical considerations in either country.

Platinum is used as the exclusive precious metal catalyst in hydrogen fuel cells, alongside Iridium. This fast-growing hydrogen-fuel-cell technology relies on Platinum, as it can withstand considerably higher temperatures than other metals. A fuel cell needs Platinum for the catalyst that separates hydrogen into protons and electrons, which then generate the electrical current, making it an alternative to battery-powered vehicles. Hydrogen fuel cells, though presently expensive in their infancy, are expected to be a massively important part of reducing global carbon emissions.

The balance of any investment portfolio depends on appetite for risk. Many investors consider a precious metal holding a safe haven – a form of protection against riskier exposure elsewhere. Demand for Platinum investment bars can increase when the price of Gold rises and the Platinum/Gold ratio increases. Platinum is however deemed to be the most volatile of the precious metals.

Lesser known than the above three metals is Palladium, which has more industrial uses. Palladium is a shiny, silvery metal used in many types of manufacturing processes, particularly for electronics and industrial products. It can also be used in dentistry, medicine, chemical applications, jewelry, and groundwater treatment. The majority of the world’s supply of this rare metal, which has the atomic number 46 on the periodic table of elements, comes from mines located in the United States, Russia, South Africa and Canada.

This is by far the number one driver for prices of Palladium around the world. The auto industry accounts for approximately three quarters of the global demand for Palladium. Palladium is a key component in the manufacturing of catalytic converters because the metal serves as a great catalyst that speeds up chemical reactions. This and the demand for vehicles in large markets like the US and China have a sizable bearing on the price of Palladium.

Metalworkers can create thin sheets of palladium down to one-two hundred fifty thousandths of an inch. Pure palladium is malleable, but it becomes stronger and harder once someone works with the metal at room temperature. The sheets are then used in applications like solar energy and fuel cells.

Much of the world’s Palladium supply (circa 80%) comes from Russia and South Africa. Any interruptions to this supply or process, be it in the form of sanctions as Russia sometimes deals with, or power supply problems (currently faced in South Africa) can cause a fluctuation in prices.

Substituting Palladium for other metals within the auto industry is coming under increasing scrutiny. This is in large part due to the high price of Palladium, and also the fact that a number of substitutes, including Platinum can be used.

The US Dollar forex market is facing numerous challenges. The weakening dollar can certainly have an impact on Palladium prices as it does on other precious metals, though the reasoning may be different. Palladium is typically purchased from suppliers in US Dollars. Any downward movement in the Dollar has the potential to act as a disincentive to suppliers. This can reduce the supply of the precious metal which in turn can lead to upward price movements.

Jewelers first incorporated Palladium into jewelry in 1939. When mixed with yellow gold, the alloy forms a metal stronger than white gold. In 1967, the government of Tonga issued circulating Palladium coins touting the coronation of King Taufa’ahau Tupou IV. This is the first recorded instance of Palladium used in coinage.

Rhodium has rarely been considered an investment precious metal like Gold, Silver, Platinum and Palladium. However, it is considerably rarer than all of these precious metals and thus merits investment consideration. Only 28 tons of Rhodium are mined annually compared to 220 tons of Platinum and over 2,300 tons of Gold.

Rhodium is a lustrous white metal that is both hard and dense. It has very high reflective properties and is an excellent conductor of both heat and electricity. Like Palladium, it is one of the six Platinum Group Metals or “Noble Metals”. Rhodium was discovered in 1803 by the British chemist and physicist William Hyde Wollaston along with his discovery of Palladium.

Engineers understand Rhodium as an alloy or coating agent that improves the corrosion resistance of both Palladium and Platinum. Rhodium is often used by jewelers as a coating on Silver, Platinum and Palladium jewelry to make the items more scratch resistant and improve luster and shine.

Like Platinum and Palladium, the majority of demand for Rhodium comes from the auto industry for its usage in catalytic converters where Rhodium catalyzes the reduction of nitrogen oxide to nitrogen.

Rhodium is extracted as a byproduct of Platinum mining. Therefore, like Platinum, the majority of the world’s Rhodium supply (80%) comes from South Africa in the mining region called the Bushveld complex. Rhodium is extremely difficult and costly to extract as compared to other elements in the earth.

The price of Rhodium has been very volatile in recent years. Rhodium traded up from US$600/oz in 2016 to a record high of US$29,800/oz in Q1, 2021. Strong demand from China for auto manufacturing due to increasingly stringent emissions regulations globally, together with the threat of lower supply amid a lack of investment in new mines over the past decades have made Rhodium the strongest performing commodity in 2020.