World’s Most Expensive Metals
A comprehensive list of the world’s most expensive metals ranked by current market price per troy ounce (as of mid-2025), along with their key applications:
Top 15 Most Expensive Metals (Per Troy Ounce)
- Rhodium (Rh)
- Price: $4,800–$5,200
- Uses: Catalytic converters (85% of demand), jewelry plating, electrical contacts, and industrial catalysts.
- Iridium (Ir)
- Price: $4,500–$5,500
- Uses: High-temperature alloys, spark plugs, cancer radiation therapy, crucibles for crystal growth.
- Gold (Au)
- Price: $2,300–$2,400
- Uses: Jewelry (50%), financial reserves, electronics (conductors), and aerospace radiation shielding.
- Palladium (Pd)
- Price: $1,000–$1,200
- Uses: Catalytic converters (gasoline vehicles), hydrogen purification, dentistry, and electronics.
- Platinum (Pt)
- Price: $950–$1,050
- Uses: Catalytic converters (diesel vehicles), laboratory equipment, jewelry, and anticancer drugs.
- Ruthenium (Ru)
- Price: $400–$500
- Uses: Chip resistors (electronics), solar cell coatings, platinum alloy hardener.
- Osmium (Os)
- Price: $300–$400
- Uses: Specialty alloys (fountain pen tips, electrical contacts), histological staining.
- Note: Highly toxic as osmium tetroxide; rarely traded.
- Rhenium (Re)
- Price: $100–$120
- Uses: Jet engine turbine blades (superalloys), petroleum refining catalysts.
- Silver (Ag)
- Price: $29–$31
- Uses: Solar panels (20%), electronics, Jewelry, investment coins, and antibacterial agents.
- Germanium (Ge)
- Price: $24–$26 (per troy oz equivalent)
- Uses: Fiber optics, infrared night-vision lenses, and semiconductor chips.
- Gallium (Ga)
- Price: $15–$18 (per troy oz equivalent)
- Uses: Semiconductors (GaAs for LEDs), 5G tech, and medical thermometers.
- Indium (In)
- Price: $9–$11 (per troy oz equivalent)
- Uses: LCD/TV screens (ITO coatings), solar panels, solder alloys.
- Scandium (Sc)
- Price: $8–$10 (per troy oz equivalent)
- Uses: Aerospace alloys (lightweight), solid oxide fuel cells, sports equipment.
- Tellurium (Te)
- Price: $2–$3 (per troy oz equivalent)
- Uses: Solar panels (cadmium telluride), thermoelectric devices, steel machining.
- Bismuth (Bi)
- Price: $0.50–$0.70 (per troy oz equivalent)
- Uses: Lead-free ammunition, pharmaceuticals (Pepto-Bismol), and fire detectors.
Key Notes:
- Price Volatility:
- Industrial metals (Rh, Ir, Pd) fluctuate with auto/tech demand.
- Rhodium famously spiked to $29,800/oz (2021) during catalytic converter shortages.
- Gold/silver remains stable due to investment demand.
- “Per Troy Ounce” vs. “Per Kilogram”:
- Rare earth metals (e.g., lutetium, terbium) rank lower per troy ounce despite high per kg prices.
- Example: Lutetium ≈ $1,000/kg → $31/troy oz.
- Radioactive Metals:
- Californium-252 (synthetic): ~$27 million/gram (nuclear reactors/cancer treatment).
- Excluded from trading lists due to non-commercial availability.
- Critical Sources:
- Rhodium/Iridium: 80% from South Africa.
- Palladium: 40% from Russia.
- Germanium/Gallium: China dominates production (recent export controls).
💎 Summary Table:
| Rank | Metal | Price (USD/troy oz) | Primary Applications |
| 1 | Rhodium | $4,800–$5,200 | Auto catalysts, jewelry plating |
| 2 | Iridium | $4,500–$5,500 | Aerospace alloys, medical radiation |
| 3 | Gold | $2,300–$2,400 | Jewelry, financial reserves, electronics |
| 4 | Palladium | $1,000–$1,200 | Auto catalysts, hydrogen tech |
| 5 | Platinum | $950–$1,050 | Auto catalysts, lab equipment |
| 6 | Ruthenium | $400–$500 | Electronics, solar cells |
| 7 | Osmium | $300–$400 | Specialty alloys, electrical contacts |
| 8 | Rhenium | $100–$120 | Jet engines, oil refining catalysts |
| 9 | Silver | $29–$31 | Solar panels, electronics, Jewelry |
| 10 | Germanium | $24–$26 | Fiber optics, infrared optics |
For real-time prices:
- Precious Metals: Kitco
- Industrial Metals: Trading Economics