Live rhodium price in Canadian Dollars (CAD) per troy ounce and per gram. Track the global price from a Canadian perspective, understand the Royal Canadian Mint context, and explore Canada's role in the global PGM supply chain as a mining nation.
The Royal Canadian Mint in Ottawa is world-renowned for its Maple Leaf coins, struck in gold, silver, and platinum. However, it does not mint rhodium coins or bars. Despite this, Canada has a massive footprint in the global precious metals market, anchored by Kitco Metals in Montreal, which is one of the world's largest online precious metals dealers and a primary source of global rhodium price publishing.
Canada is also a significant PGM mining nation. Operations in the Sudbury Basin in Ontario — managed by giants like Vale and Glencore — produce palladium, platinum, and some rhodium as byproducts of their extensive nickel and copper operations.
For Canadian investors, Toronto-based Sprott Asset Management is a critical player. Sprott issues several physical precious metal trusts and PGM-related ETFs traded on the TSX, making them an essential avenue for Canadian investors looking for PGM exposure in tax-advantaged accounts.
Canadian investors can gain exposure to PGMs through physical bullion dealers like Kitco or via the TSX. While physical rhodium is difficult to acquire, Toronto-based Sprott offers physical trusts for platinum and palladium, and the TSX hosts numerous PGM exploration and mining companies.
The Canadian auto industry, primarily located in Ontario (Toyota in Cambridge, Honda in Alliston, GM in Oshawa, Stellantis in Windsor), is highly integrated with the US market. Consequently, Canadian emission standards mirror the US EPA requirements. This means ICE vehicles manufactured or imported into Canada require high-loading catalytic converters, supporting significant rhodium demand.
Similar to the US, Canada experienced a major wave of catalytic converter theft from 2021 to 2023. As rhodium prices skyrocketed, criminals targeted parked vehicles across major Canadian cities, forcing provincial governments and police to crack down on unregulated scrap metal sales.
Looking forward, Canada has implemented a 2035 Zero-Emission Vehicle (ZEV) mandate, requiring 100% of new light-duty vehicle sales to be zero-emission by 2035. As this mandate ramps up, Canadian rhodium demand for autocatalysts will steadily decline, shifting the focus entirely towards recycling spent converters.
Capital gains and GST/HST rules for Canadian investors.
Under CRA regulations, the supply of a "precious metal" is zero-rated (exempt from GST/HST). However, "precious metal" is specifically defined as a bar, ingot, coin or wafer of gold, silver or platinum of required purity. Rhodium and palladium are not included. Therefore, applicable GST/HST (ranging from 5% to 15% depending on your province) applies to physical rhodium purchases, impacting the initial cost significantly.
The rhodium price in Canada today is approximately C$12,489 per troy ounce and C$402 per gram, based on the global reference price of $9,050 USD/oz converted at approximately C$1.38 per USD. Your actual purchase price will also be affected by dealer premiums and local taxes.
Physical rhodium is not considered a qualified investment for Tax-Free Savings Accounts (TFSAs) or Registered Retirement Savings Plans (RRSPs). However, certain PGM-related physical trusts and mining company equities traded on recognized exchanges (like the TSX) are eligible.
Yes. The Canada Revenue Agency (CRA) only zero-rates specific investment-grade gold, silver, and platinum. Rhodium does not qualify for this exemption, meaning GST or HST (5-15%, depending on the province of delivery) will be applied to your purchase.
Capital gains realized on the sale of rhodium are taxable. Historically, the inclusion rate was 50%, meaning only half of the gain is added to your taxable income. Budget 2024 introduced changes proposing a two-thirds inclusion rate for capital gains exceeding C$250,000 in a year for individuals.
Yes, but in small quantities. Rhodium is produced as a byproduct of nickel mining in the Sudbury Basin of Ontario, alongside platinum and palladium, by major mining companies like Vale and Glencore. Canada is a much larger producer of palladium than rhodium.
The 2035 Zero-Emission Vehicle mandate requires 100% of new light-duty vehicles sold in Canada to be zero-emission. As battery electric vehicles do not use catalytic converters, domestic rhodium demand for new vehicles will drop to zero by 2035. However, the recycling of spent Canadian catalytic converters will continue to supply the global market for decades.