Forget gold’s rally, check out this metal that is the one to watch says expert
Production disruption in the marketplace is pushing Platinum Group Metals higher across the board. Rhodium, which is at a fresh all-time high, are benefiting from production issues, even though coronavirus fears are weighing on global economic growth. Ryan Giannotto, director of research at GraniteShares ETFs, said that this is all about access to the metal and not economic conditions.
“Automakers are in the business of meeting environmental emissions, not being prop traders at Goldman Sachs,” he said. “That is what is fueling this trend.” Giannotto noted that only 30,000 ounces of rhodium are produced annually. However, the market Giannotto is watching if platinum as the metal has struggled in the current environment.
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