You must have heard people say that diamonds’ values can reduce over time, but gold’s value always remains stable. Due to its intrinsic value and limited supply, gold is considered a haven investment during times of economic uncertainty.
However, many other metals are more expensive than gold and hold even greater value in certain industries. These metals are often used in the production of high-end electronics and vehicles, making them highly sought-after commodities.
In this article, we’ll learn about these rare and expensive metals, which are far more expensive than gold and are present in limited quantities on Earth. These metals will leave you amazed at their value and importance in various industries.
List of the Most Expensive Metals than Gold
Here’s the list of the top 10 metals that are more expensive than gold. These metals are rare earth elements such as rhodium, platinum, and ruthenium. The list includes:
1. Californium (Cf)
- Weight: 251 g/mol
- Type: Pure metal
- Formation: Synthetic, produced in nuclear reactors; Created through neutron bombardment of curium.
Californium is the most expensive metal, valued at around $750 million per ounce. Its rarity stems from its artificial production and limited annual output, making it primarily useful in nuclear applications and medical treatments.
2. Rhodium (Rh)
- Weight: 102.91 g/mol
- Type: Pure metal
- Formation: Extracted from platinum ores; Mined primarily in South Africa and Russia.
Rhodium is highly prized for its reflective properties and resistance to corrosion, often used in catalytic converters. Its price can exceed $4,650 per ounce due to its scarcity and high demand in automotive applications.
3. Palladium (Pd)
- Weight: 106.42 g/mol
- Type: Pure metal
- Formation: Mined from nickel-copper deposits; Extracted via smelting processes.
Palladium is utilised extensively in catalytic converters and electronics, with a current price of around $1,022 per ounce. Its increasing demand has made it one of the most sought-after metals.
4. Platinum (Pt)
- Weight: 195.08 g/mol
- Type: Pure metal
- Formation: Found in alluvial deposits and mined from ore; Extracted through various refining processes.
Valued for its durability and resistance to tarnishing, platinum is commonly used in jewellery and industrial applications, priced at approximately $1,005 per ounce.
5. Iridium (Ir)
- Weight: 192.22 g/mol
- Type: Pure metal
- Formation: Mined as a byproduct of nickel mining; Found in platinum ores.
Iridium is one of the rarest metals, known for its hardness and corrosion resistance. Its price is about $4,725 per ounce, making it valuable for specialised industrial applications.
6. Osmium (Os)
- Weight: 190.23 g/mol
- Type: Pure metal
- Formation: Extracted from platinum ores; Mined as a byproduct of nickel refining.
Osmium is the densest naturally occurring element and is used in fountain pen nibs and electrical contacts, with a price of around $400 per ounce.
7. Ruthenium (Ru)
- Weight: 101.07 g/mol
- Type: Pure metal
- Formation: Found alongside other platinum group metals; Extracted through mining processes.
Ruthenium is increasingly used in electronics and as a catalyst in chemical reactions, with a price of about $410 per ounce.
8. Rhenium (Re)
- Weight: 186.21 g/mol
- Type: Pure metal
- Formation: Mined from molybdenum ores; Extracted through complex refining processes.
Rhenium has the third-highest melting point among metals and is used in high-temperature superalloys for jet engines, priced at approximately $46.87 per ounce.
9. Silver (Ag)
- Weight: 107.87 g/mol
- Type: Pure metal
- Formation: Found in native form or as a byproduct of other mining operations; Extracted through smelting processes.
Silver has extensive industrial applications due to its high conductivity and reflectivity, with prices around $21.14 per ounce.
10. Indium (In)
- Weight: 114.82 g/mol
- Type: Pure metal
- Formation: Mined from zinc ores; Extracted through refining processes.
Indium is used primarily in electronics and solar panels, with prices ranging between $1 to $5 per gram.
The world of precious metals is fascinating, with many metals surpassing gold in value. Each metal has unique properties that make it valuable, whether for industrial use, electronics, or jewellery.
As demand continues to grow, especially in the automotive and electronics sectors, the prices of these metals may rise even further. This highlights the need for sustainable mining practices to ensure their availability for future generations.