The Obscure Metal That’s Beating Any Other Investment
Rhodium is prone to volatility because it’s a smaller market than similar metals like platinum and palladium.
Photographer: Henrik Kettunen/BloombergThis article is for subscribers only.
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 percent in the five days through Wednesday, 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 rose 23 percent since July 9, and shares of producers climbed.