The Most Expensive Metals in the World While Platinum sold for the highest prices in the past, you'll be interested to know that Rhodium is currently the most expensive metal in the world. What is this? The metals Rhodium, Iridium, Palladium, Platinum, Ruthenium, and Osmium, make up the platinum group metals (PMG).
1. RHODIUM: TOP MOST VALUABLE METAL. 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.
Platinum: Despite being nearly identical in appearance, platinum is more valuable than gold. Platinum's high price point can be attributed to its rarity and density as precious metals are often priced by their weight.
Palladium is currently the most expensive of the four major precious metals - gold, silver, platinum and palladium. It is scarcer than platinum, and is being used in great quantities for catalytic converters in cars.
Palladium's relative rarity makes it a valuable investment option when used to strategically diversify a Precious Metals portfolio.
Galileo Mining Ltd (ASX:GAL) has received the highest palladium and platinum results to date from its 100%-owned Norseman project in Western Australia. Palladium and platinum drill results extend over nine kilometres of strike length along a well-defined geological trend.
Palladium has been found uncombined in nature, in Brazil, but most is found in sulfide minerals such as braggite. It is extracted commercially as a by-product of nickel refining. It is also extracted as a by-product of copper and zinc refining.
1. Rhodium. Rhodium is a rare, silvery-white metal that belongs to the platinum group of elements.
Titanium is stronger and lighter than platinum, making it an ideal choice for pieces that need extra durability, like rings or bracelets; however, due to its rarity, platinum tends to be more expensive than titanium but can still be used in smaller pieces like pendants or earrings without sacrificing comfort or style.
Some investors may want to prioritize stability and long-term investing. In that case, gold is likely the better option. The precious metal has a longstanding history of reliable demand which often spikes during economic downturns. On the other hand, platinum usually performs better during times of economic growth.
Platinum has often been used in cigarette boxes, lighter cases, cigarette and cigar holders, cigar cutters, and other smoking accessories. Now that smoking is becoming less popular, a number of these items are “washing back” onto the marketplace.
80% of the world's current production comes from South Africa and the Sudbury Basin of Canada. Smaller reserves can be found in the United States, Zimbabwe and Australia. Platinum is also attained through recycling.
Iridium (Ir) – $4,750/troy ounce. Palladium (Pd) – $2,027/troy ounce. Gold (Au) – $1,723.55/troy ounce. Platinum – $889/troy ounce.
There are many gems that are more valuable than diamonds. Emeralds, sapphires, rubies, garnets, and alexandrite, just to name a few.
Red beryl is estimated to be worth 1,000 times more than gold and is so rare that one red beryl crystal is found for every 150,000 diamonds.
Blue Diamond – $3.93 million per carat
The most expensive and rarest gemstone in the world is a natural blue diamond. That explains the price of $3.93 million per carat. Blue diamonds were discovered in India and later displayed in a London collection in 1839.
Currently palladium is the metal used in petrol vehicle catalytic converters, with about 2-7 grams per unit, depending on the vehicle in question.
The largest use of palladium today is in catalytic converters. Palladium is also used in jewelry, dentistry, watch making, blood sugar test strips, aircraft spark plugs, surgical instruments, and electrical contacts. Palladium is also used to make professional transverse (concert or classical) flutes.
Palladium is more durable and harder than gold and is also more expensive per ounce.
Australian Rare Earths has been exploring an area between Keith and Naracoorte, with some extension into Victoria, for deposits of, mostly, praseodymium, neodymium, terbium, and dysprosium.