The internet is buzzing with reports that Barack Obama is buying his wife a $30,000 pure rhodium ring for his inauguration. The ring is apparently made by Italian designer, Giovanni Bosco. The reports are claiming that rhodium is super expensive at over $7,000 per ounce. Whereas rhodium is commonly used to plate both white gold and platinum jewelry to give it a clean, bright appeal, it is highly unusual to have pure rhodium jewelry.
What really are the facts:
- Obama's spokespeople have already denied the reports.
- Solid rhodium is generally unsuitable (unheard of?) for jewelry because it is brittle and difficult to cast. The high price of the metal is less of a barrier than these other factors.
- Prices of Rhodium have plummeted from an annual high of $10,010 to $935. This is more expensive than platinum ($817) or gold ($782), but not much more so and nowhere near the prices being reported in the Obama reports. Take a look at this amazing chart of the price of rhodium:
Given the inconsistencies in the story, it is almost certainly fake. Michelle Obama would be getting ripped off based on today's rhodium prices. Anyway, its great publicity for Giovanni Bosco.
(....Michelle, if you want a special, custom-made
ring for the inauguration,
email me!)
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