We will be discussing the Top 10 Most Expensive Precious Metals to Trade-In. if you are an investor with an interest to invest in the commodity market, this informative piece is for you as you will get to find out the precious metals that you can trade in and the ones you may want to stay away from. The commodity market is a booming market but mind you, prices can fly high or hit rock bottom. Take your time and read through to the end.
Top 10 Most Expensive Precious Metals to Trade-In
Let’s go straight to our discussion beginning with the highlight of the Top 10 Most Expensive Precious Metals to Trade-In below.
Price: $675,166 per kg
Rhodium is a precious metal of the platinum group and it is the Most Expensive Precious Metal on Earth. The metal costs more than $600 thousand per kg, which is about four times more than the price of gold and almost ten times the price of platinum. The reason for this humongous price is because of the wide-ranging applications and the great scarcity of metal.
Major producers of Rhodium include South Africa, Russia, Zimbabwe, Canada, United States, Colombia, Botswana, and Finland.
Price: $102,882 per kg
Iridium is the next Most Expensive Precious Metal on Earth and also one of the rarest metals of the platinum group on earth. Iridium’s hardness makes it the perfect hardening agent for alloys, which are used for the production of aircraft engine parts and deep-water pipes. As such, the metal is mostly used in metallurgy, medicine, the automotive industry, electronics, aviation, and other sectors.
The price of this scarce metal is grossly affected by difficulties in production, demand, market speculations, politics in the producing countries, and technology development.
Countries that are the major producers of this metal include Brazil, United States, Myanmar, South Africa, Russia, Australia.
Price:$77,837 per kg
Palladium is majorly produced in Russia, the top producer as well as South Africa, United States, Canada, and Zimbabwe. Palladium is considered to be the third most costly metal in the commodity market. The metal is extremely rare which is a major factor for the huge price per kilo.
Interestingly, this metal is of high value in aerospace, navigation, aviation, weaponry, dentistry, medicine, electronics, and nuclear energy fields. Additionally, potential investors may like to know that this is an important element for the automotive industry, which may guarantee a continuously growing market.
Major producers of this precious metal include Russia, South Africa, United States, Canada, and Zimbabwe.
Price:$58,836 per kg
Gold is a highly valued metal and one of the Most Expensive Precious Metals on Earth, although not among the rarest. The metal’s durability, flexibility, and desirability make it the most sought-after element on earth. Unlike most of the metals listed in this informative piece, gold is the most popular investment instrument, thanks to its long history and stability, especially in times of war or crisis.
The demand for this metal is mostly for the application of pieces of jewelry and trading, others include electronics, aerospace equipment, medical and dental implants.
Which country is the largest Gold Producer in the world? Gold is available in several countries around the world but the major producers of this yellow shinny metal are countries like South Africa, the United States, China, Russia, and Australia.
Price: $34,562 per kg
Platinum is not left out among the list of the Top 10 Most Expensive Precious Metals to Trade-In. This element is one of the most widely-used precious metals because of its sheer adaptability. Also, its price and value can be attributed to its slight scarcity of gold. But it has a smaller market compared to gold in the commodity market.
The metal is used in applications such as jewelry, weapons, aeronautics, and dentist equipment because of its high level of resistance. The major producers of this rare and high-demand metal include South Africa, Russia, Zimbabwe, Canada, and the United States.
Price: $12,800 per kg.
Osmium is the sixth Most Expensive Precious Metal on Earth and it is known for sharing almost entirely the same qualities as Iridium. The metal is hard and brittle that also shares a high melting point and it is used mainly in platinum alloys. Also, it is very dense.
The metal is commonly used in the production of fountain pen tips, record player needles, electrical contacts, fingerprint detection, among others. More so, the major producers of this metal are Russia, Canada, South Africa, and the United States.
Price:$9,002 per kg
Ruthenium’s price is $9,002 per kg making it the seventh expensive precious metal to trade-in. The precious metal is in the class of Platinum and it is commonly used in electronics because it serves as a good material to use for playing. Also, the metal’s hardness makes it a good hardener compared to other metals.
However, this metal is rare and not easy to come by and the major producers of this metal are Russia, North and South America, Canada, and South Africa.
Price: $4,150 per kg.
At the number eighth spot on our list of Top 10 Most Expensive Precious Metals to Trade-In is Rhenium, dense metal with the third-highest melting point of any element. This precious metal for making turbine engines is also added to nickel-based superalloys to increase heat resistance.
Additionally, it is used on filaments, electronic casings and often comes as a by-product of copper mining. The major producers are Chile, Poland, United States, Uzbekistan, and Kazakhstan.
Price:$800 per kg
Silver is not left out among the Most Expensive Precious Metal on Earth having an $800 per kilogram tag. Silver is often placed vis-à-vis gold as the two seem to be together. However, silver is not as rare as gold which makes it more available and affordable compared to the yellow shiny metal.
The metal is considered to be a strong heat and electrical resistance as well as contact resistance. Silver is used for a lot of applications, ranging from expensive coins to cutlery, to circuitry, to batteries, among other applications.
The major producers of this metal are Mexico, Peru, China, Russia, Poland, Chile, Bolivia, Australia, and the United States.
Price: $3, 460
Scandium is highly produced in Ukraine, China, Russia, Kazakhstan, and Australia. The precious metal is used in several applications such as fighter planes, bicycle frames, mercury vapor lamps, rockets, robots, lasers, satellites, aircraft, among others.
From our listing above, you can see that the Top 10 Most Expensive Metals to Trade Inencompass has a wide variety of artifacts to invest in. You can carry out your research to find out the best metal you can invest in and don’t hesitate.