Today, the price of rhodium is $14,000 per ounce. Compare that to platinum at $959/ounce, palladium at $1,866/ounce, or gold at $1,783/ounce.

Is platinum or rhodium more expensive?

Today, the price of rhodium is $14,000 per ounce. Compare that to platinum at $959/ounce, palladium at $1,866/ounce, or gold at $1,783/ounce.

What is today’s price of rhodium?

PGMs

Is platinum rarer than rhodium?

Rhodium is the rarest of the platinum group, only occurring up to one part per 200 million in the Earth’s crust, according to Chemistry Libretexts. Rhodium has lower density and a higher melting point than platinum.

Why is rhodium price so high?

The company was forced to enter the spot market late in 2020 and early in 2021 to secure additional supply to meet its contractual obligations to Asia, contributing to the metal’s price rise, Jonson says.

Which is better rhodium or platinum?

However, platinum jewelry is more expensive than rhodium plated jewelry, even though the metal itself is less valuable. Rhodium jewelry has only a thin coating of fine metal, which makes it more affordable but just as beautiful and even more reflective than platinum.

Why is rhodium so expensive 2021?

Why is rhodium so expensive? Rhodium prices are higher than those of other PGMs because of the metal’s rarity and the complex industrial extraction process required to produce it. There are very few rhodium minerals, and more than 80% of the global ores are concentrated in South Africa followed by Russia.

Who will buy my rhodium?

AU Precious Metal Solutions is a professional precious metal buyer that can help you make money selling your unwanted or unused metals. We pay cash for gold, cash for silver, cash for platinum, cash for palladium and cash for rhodium.

Why is the price of platinum going down?

Platinum trends 2021: Mined supply surplus weighs on price As 2021 progressed, the platinum price steadily slipped lower as mined supply increased some 19 percent year-over-year and demand retracted 5 percent. 2021 platinum price performance. Chart via Trading Economics.

What precious metal is worth the most?

1. Rhodium. The title of the most expensive precious metal in the world goes to Rhodium. This precious metal is extremely rare and can be best described as a silver-white, hard, corrosion-resistant inert transition metal.

What is the world’s most precious metal?

Rhodium
Rhodium. Rhodium holds the title of being the most expensive precious metal on the planet. This exceedingly uncommon precious metal is defined as a silver-white, robust, corrosion-resistant inert transition metal. After a price increase of more than 30% this year, rhodium is quietly one of the hottest trades right now.

What’s the difference between rhodium and platinum?

Rhodium, one of the five platinum metals, coats the jewelry with a bright white layer. But rhodium wears off, and must be replated. Platinum, on the other hand, is a completely white metal, and never needs plating. Plating will need to be done most frequently for rings because they receive the most wear.

Does platinum plating wear off?

Platinum-Plated Jewelry Can Tarnish and “Turn Your Skin Green” It is a myth that anything coated with platinum cannot tarnish. If the layer of platinum is too thin, it can wear away and expose the metal underneath.