Rhodium is the costliest metal in the world today 

There are many metals in the world which are many times more expensive than gold, platinum and diamonds. Some of these are so expensive that even a mere milligram costs crores of rupees. One of these is rhodium. The special thing about rhodium is that it does not rust. The value of this metal is said to be one and a half times that of gold. Rhodium is found in smaller quantities due to its rarity compared to the availability of gold.

The price of rhodium has been skyrocketing in recent years, reaching around Rs 12,416 per gram in 2024. It is used in catalyst converters in the automobile industry and to shine white gold in jewellery. Its rarity and increasing demand make it the most expensive metal.

Rhodium is mainly mined in South Africa and Russia. It is a radioactive metal that is naturally found in much smaller quantities than uranium ore. Extracting and refining it is a very complex and dangerous process. The scarcity of this metal on earth makes it very valuable.

It is used in self-luminous paints, aircraft switches, clock dials, nuclear panels, toothpaste, hair creams etc. In the 19th century, it was used in the medical field because it emits gamma rays, which makes it effective in the treatment of fatal diseases like cancer.

Today, Rhodium is produced in very little quantity, because its uses are limited and its radioactive properties are dangerous for health due to which its use in paints, clothes, medicines was stopped.