Not Gold, This is the World's Most Expensive Metal

Precious metals are highly sought after by many. These metals are limited in quantity and possess high resistance to corrosion and oxidation, resulting in their high value.

Generally, precious metals are purchased in the form of jewelry. However, many are also interested in buying precious metals as a promising investment because they are not affected by inflation.

According to *Luxury Columnist*, here is a list of the five most expensive precious metals in the world.

1. Rhodium (US$ 15,450/troy ounce or Rp 220,25 million/troy ounce (exchange rate Rp 14,256))

Rhodium is a very rare precious metal commonly used to coat gold jewelry to increase its durability and shine. Rhodium also has a very high melting point of 1,964 degrees Celsius and is resistant to rust. This metal is produced in Canada, Russia, and South Africa.

2. Iridium (US$ 5,000/troy ounce or Rp 71.28 million/troy ounce)

Iridium is characterized by its hardness, silvery color, and very high density. Iridium is commonly used in the manufacture of watches, compasses, electronic devices, and the automotive industry.

3. Palladium (US$ 2,195/troy ounce or Rp 31.3 million/troy ounce)

Palladium is a shiny white precious metal. Russia and Africa are the world's largest suppliers of palladium. Besides being used in jewelry, palladium is very useful for the automotive industry.

4. Gold (US$ 1,789/troy ounce or Rp 25.5 million/troy ounce)

Gold is known for its unwavering value even during economic and political instability. Gold is soft, malleable, and has a shiny yellow color. Currently, gold is a booming investment option among various segments of society.

5. Platinum (US$ 958/troy ounce or Rp 13.7 million/troy ounce)

Platinum is highly flexible and silvery in color. In addition to being used in jewelry, platinum is also used in dental equipment, laboratories, and the aeronautical industry. The main producers of platinum are South Africa and Canada.

(Read More: Impact of Freeport Mining Transition, Indonesia's Gold Production Down 6.47% in 2020)