"I hope all is well with you and the family. I have been very busy these days. Last week I went to the Hard Asset conference in New York city. I have been going to this conference for more than a decade; there were few booths this year than last year in total maybe 60 I was invited to the Kitco dinner which was for about 25 people of which about 10 were their own people the rest were people who do a lot of business with them or friends to the site. Kitco has started off a new buy and sell of Rhodium the low was about $1,100 the top was $10,000 the chart looks good on this natural resource you may wish to keep an eye on this since there is always so little talk about Rhodium.

"I look so very forward to seeing you in the fall I have made my reservations already and I am excited."

David Fuller's view All are well thanks and I certainly enjoy the 3 generation weekend gatherings.

Thanks for reminding me of rhodium, which I have not mentioned since last November when I asked if anyone in the Collective knew how to buy it. The rhodium price is higher today (monthly & weekly) but not significently so. Arguably, it is the cheapest precious metal today.

I am delighted that Kitko is offering rhodium but the commissions are high. Metal Bulletin prices are updated every Wednesday and Friday, according to Bloomberg and the last price show on the chart is $2800. Kitko is currently charging $3009, which is a commission of nearly 7.5%. I did not notice mention of a seller's commission and therefore assume that it will be similar. There are also storage costs.

This is cheap relative to the commissions on collectibles which I pay at auction houses (Christie's and Sotheby's buyer's premium commences at 25% of the hammer price for the first £100,000) but it is high for a commodity. Nevertheless, as an under owned and scarce precious metal, I would not be surprised if rhodium prices moved a lot higher over the next 5 to 10 years.


The last sentence above refers to The Contrarian Opinion Forum, hosted by Alex Seagle of Fraser Management Associates. I am delighted that several subscribers have already signed up for this genteel analytical event.