Prices peaked near $10,000/ounce in 2008 and many expect the market may return to those levels next time there is a shortage of this extraordinarily rare and indispensible metal.

Like platinum and palladium, the primary application for rhodium is catalytic converters for cars and trucks. It is alloyed with platinum and palladium to enhance resistance to corrosion and aggressive chemicals. Jewelers and silver smiths also rhodium in thin layers to prevent tarnish to the underlying metal.


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