Forex
Rhodium Price Surges to $11,511.64 Per Ounce in Canada
The price of rhodium in Canada is currently $11,511.64 per ounce, according to Kitco's live market data. This makes it one of the rarest and most expensive precious metals on the market.
Rhodium is primarily used as a catalyst in three-way autocatalysts for gasoline vehicles, where it helps control nitrogen-oxide emissions. About 80% of mined rhodium comes from South Africa as a by-product of platinum mining.
The Canadian dollar price is influenced by the USD/CAD exchange rate, which can cause fluctuations in the market. Rhodium prices can be volatile due to the small and illiquid over-the-counter dealer market.