You will be surprised to know that gold is not among the most precious metals in the world. There are also some metals in the world which are many times more expensive than gold and silver and diamonds. Let’s know about the five most expensive metals in the world.
Among the most precious metals, Rhodium is the first name, it is a very rare and precious metal with silver color. It was discovered in 1803 by William Hyde Wallstone. It is generally used for reflector. This rare metal is used in nuclear reactor as a rhodium detector and optical instruments, in addition to making ornaments of some metals like gold, platinum, silver and rhodium. South Africa, Russia and Canada are important producers of rhodium.
Next on the list of the top 7 most expensive metals is platinum, whose high value is attributed to the fact that it is the least reactive metal in the world. It is rarely affected by high temperatures and has been used as a catalyst in chemical reactions since ancient times.
One of the most precious and desirable metals in the world is gold, which is known for its amazing properties such as luster, flexibility and durability. Gold is popular as an investment option and for making jewelry. The United States, China, Australia and South Africa are the leading producers of this respected metal.
It is a rare metal belonging to the platinum group. Ruthenium retains many characteristics, including hardness, rarity, and ability to withstand external elements. Ruthenium is used to make jewelry and electrical equipment, as well as to make solar batteries, which convert solar energy into electrical energy. Ruthenium is used as an alloy with platinum or palladium used to make jewelry.
Next to the list of the top 7 most expensive metals is Iridium, one of the world’s rarest metals. This precious metal is used to make television diodes and spark plugs, making it high in demand.
Rhenium is a brown-chanderi colored metal, as well as a by-product of molybdenum. Rhenium is a corrosion resistant metal, therefore, it is commonly used in electrical equipment, in high temperature turbine engines. Rhenium wire is also used in flash photography, and incorporated into nickel-based alloys to improve temperature. Chile, Kazakhstan and the United States are important producers of rhenium.
Palladium is a precious and rare metal with a brownish-white color. It is a flexible metal, it is valuable due to its ability to maintain stability in hot conditions and absorb maximum amounts of hydrogen at room temperature. It is also used extensively in jewelery making, automobile industries and electronics industries. Palladium is also used in pollution control devices made for cars and trucks. Russia, South Africa, the United States and Canada are important producers of palladium.