One of the most valued precious metals is rhodium. In fact, rhodium prices are much higher than gold prices. Due to its rarity, rhodium is only available in a fraction of the amount of gold. Palladium is the most expensive of the four main precious metals: gold, silver and platinum are the others.
It is rarer than platinum and is used in large quantities for catalytic converters. In the short term, demand for metals used in catalytic converters is expected to remain stable, driven by rising car sales in Asia. However, increased absorption of battery-powered electric vehicles, which do not use catalytic converters, could affect demand for palladium. Rhodium is the most valuable metal and exists within the platinum group of metals.
It is used in jewelry for a final finish on white gold jewelry. It occurs in the same mineral in which gold and silver exist, only in smaller quantities. The most expensive precious metal in the world is rhodium, a silver-white hard precious metal. It is an extremely rare metal that is commonly used for its reflective properties.
It has a high melting point (3,567°F) and an exceptional ability to resist corrosion. Iridium is a silvery-white hard transition metal that is considered to be the second densest metal on Earth. Belonging to the platinum group, ruthenium is a rare transition metal that was discovered by Russian scientist Karl Ernst Claus in 1844 at Kazan State University. In addition to their economic and industrial uses, gold and silver, platinum and other precious metals are popular for jewelry and art.
Gold is rare and desirable enough to be, without a doubt, the most commonly used metal in jewelry and industrial uses. Iridium was discovered in 1803 by Smithson Tennant, who named the metal precious after the Greek goddess Iris because its striking salts resembled all the colors of the rainbow. Past performance is not necessarily indicative of future results, and precious metals can appreciate, depreciate, or stay the same based on a variety of factors. It remains one of the most popular metals both in jewelry and as a store of wealth in wallets, and is also desired for its durability and malleability.
Indium is the softest metal on the planet after alkali, and in its purest form, it is white and extremely bright. With major economies, including China and India, tightening emissions standards, platinum group metal (PGM) miners anticipate good times for rhodium. This is part of the reason why the precious metal has always been in high demand, and for many people it is the most popular precious metal due to the many benefits offered by gold. Although silver could be considered quite cheap compared to other metals, it still came to be among the 10 most expensive metals.
From the cheapest to the most expensive, here are the 10 most expensive metals measured by their price in US dollars per ounce (prices as of March 11, 2020). Iridium is one of the rarest metals in the Earth's crust, with an annual production of only three tons. The grayish-white precious metal has the lowest melting point (2.831°F) and the lowest density of all platinum metals. The price of a precious metal generally depends on its supply, demand, properties, and extraction process.
This precious metal needs no introduction, since it could be said that it is the best-known metal in the world.