Live rhodium price in Australian Dollars (AUD) per troy ounce and per gram. Track the global price from an Australian perspective, understand the Perth Mint context, and explore Australia's role in the global PGM supply chain including major discoveries like Chalice Mining's Julimar project.
The Perth Mint, wholly owned by the Government of Western Australia, is one of the world's most prestigious precious metals refineries and coin mints. While it is famous for its Kangaroo gold and silver coins, and produces platinum products, it does not currently mint or refine rhodium. This reflects rhodium's highly specialized industrial nature and its scarcity.
Australia's precious metals market is robust, with dealers like ABC Bullion (Sydney) and Ainslie Bullion (Brisbane) dominating domestic trade. However, rhodium remains a niche asset. Australia's role in the global PGM supply chain has historically been as a minor producer (primarily as a byproduct of nickel mining in Western Australia), but this is changing rapidly.
The 2020 discovery of the Julimar nickel-copper-PGM deposit by ASX-listed Chalice Mining in Western Australia ranks as one of Australia's biggest mineral discoveries in decades. This major palladium-platinum-rhodium resource positions Australia to become a much more significant player in global PGM supply outside of South Africa and Russia. Additionally, operations like Sibanye-Stillwater's Australian Sandouville nickel refinery highlight Australia's growing downstream processing capabilities.
For Australian investors, exposure to PGMs often comes through mining equities rather than physical metal due to the GST treatment and illiquidity of minor PGMs. The ASX offers access to several explorers and developers in the PGM space, most notably those operating in Western Australia.
Australia no longer has a domestic automotive manufacturing industry following the closure of Holden, Toyota, and Ford plants by 2017. Today, all vehicles are imported. However, Australia enforces strict Australian Design Rules (ADR) emission standards, which align closely with Euro standards. This ensures that every new internal combustion engine (ICE) vehicle imported into Australia carries a rhodium-rich catalytic converter.
The massive spike in rhodium prices between 2021 and 2022 (when rhodium hit $29,800 USD) led to a severe epidemic of catalytic converter theft across Australia. Criminal syndicates targeted vehicles in long-term car parks, dealerships, and streets across Sydney, Melbourne, and Brisbane to extract the valuable PGMs.
This rampant theft prompted investigations by state police forces and authorities like the ACCC into scrap metal dealers acting as fences for stolen converters. While rhodium prices have since cooled, the legacy of this price spike has led to tighter regulations on scrap metal trading and cash-for-scrap bans in several Australian jurisdictions.
CGT and GST rules for Australian precious metals investors.
Under ATO rules, "precious metals" for GST exemption purposes are strictly defined as gold, silver, and platinum of investment grade (99.5%+ for Au/Pt, 99.9% for Ag). Rhodium and palladium are NOT exempt from GST. Therefore, a 10% GST applies to physical rhodium purchases in Australia, making it a less efficient investment vehicle compared to physical gold or silver.
The rhodium price in Australia today is approximately A$14,299 per troy ounce and A$460 per gram, based on the global reference price of $9,050 USD/oz converted at approximately A$1.58 per USD. Prices fluctuate with both the USD spot price and the AUD/USD exchange rate.
No, the Perth Mint currently only produces investment products in gold, silver, and platinum. It does not mint or refine rhodium due to its specialized industrial nature and illiquidity.
Yes. While investment-grade gold, silver, and platinum are GST-free under ATO regulations, rhodium and palladium are not classified as "precious metals" for GST purposes. You will pay 10% GST on physical rhodium purchases.
Yes, SMSFs can invest in physical precious metals including rhodium. However, strict rules apply: it must be permitted by the fund's investment strategy, it cannot be stored at a trustee's private residence, and it must be insured.
Profits from the sale of rhodium are subject to Capital Gains Tax (CGT). If you hold the asset for more than 12 months before selling, you may be eligible for the 50% CGT discount, meaning only half the gain is added to your assessable income and taxed at your marginal rate.
Between 2021 and 2022, rhodium prices spiked to nearly $30,000 USD per ounce. This made the small amount of rhodium inside vehicle catalytic converters incredibly valuable, leading organized criminal rings to steal converters from parked cars across Australia to sell to scrap metal dealers.