Editor's Note: 2020 is expected to be another year of significant  uncertainty and turmoil. But the question is what asset will emerge the victor  when the dust settles from the global trade war, Brexit, recession threats,  negative bond yields. It's a showdown of global proportions, so don't miss all  our exclusive coverage on how these factors could impact your 2020 investment  decisions.

(Kitco News) - Rhodium prices have  skyrocketed, which analysts and traders are attributing to strong industrial  demand – particularly from the Chinese car market – at a time when supplies are  unable to keep pace.

Further, rhodium is  one of the smallest metals markets, meaning huge spreads right now between  “bid” and “ask” prices in limited trading conditions.

Rhodium has already  risen by around one-third in the first five trading days of the new year, with  prices last trading around $7,300 an ounce. Some commodity analysts and traders  say that the 2008 record high near $10,000 is the new target to watch, and  prices could remain at historically higher levels even when they do finally  correct.

“Everyone needs  this metal, and we are seeing speculators now entering the market,” said  Jonathan Butler, precious-metals analyst and head of business development at  Mitsubishi. “This has all the makings of a squeeze, and who knows where it will  end.”