Live rhodium spot price in US Dollars per troy ounce and per gram. Rhodium trades exclusively Over-The-Counter (OTC) with no active futures contract on the NYMEX. Domestic demand is heavily driven by the "Big 3" automakers and stringent EPA / CARB emission regulations.
Unlike gold, silver, platinum, and palladium, there is no active rhodium futures contract traded on the NYMEX (New York Mercantile Exchange) or COMEX divisions of the CME Group. Because the rhodium market is extremely small, illiquid, and heavily concentrated among a few industrial players, it trades almost entirely Over-The-Counter (OTC). Prices are determined by direct negotiation between refiners (like Johnson Matthey and BASF) and industrial consumers (automakers).
The US is home to significant PGM processing and catalyst manufacturing infrastructure. Johnson Matthey North America operates out of Wayne, PA, while BASF Catalysts is headquartered in Iselin, NJ. These companies refine PGMs and produce the autocatalysts that scrub emissions from vehicle exhausts.
Additionally, the US has domestic PGM production via Sibanye-Stillwater's operations in Montana. While primarily a palladium and platinum mine, it produces small byproduct quantities of rhodium, making it the only primary PGM mine in the United States.
Rhodium is part of the Platinum Group Metals (PGMs) suite. In the US, platinum and palladium are actively traded on futures exchanges and are common in retail investment portfolios. Rhodium, iridium, ruthenium, and osmium remain specialized industrial commodities.
The pricing relationship between these metals heavily dictates automotive engineering decisions. When palladium prices surge, automakers often attempt to substitute it with platinum (so-called "thrifting"). However, rhodium's unique ability to reduce nitrogen oxides (NOx) makes it virtually unsubstitutable, leaving automakers exposed to its extreme price volatility.
The US "Big 3" automakers (Ford, General Motors, Stellantis) along with massive US manufacturing footprints for Toyota and Honda, are the primary consumers of rhodium in North America. The metal's essential use case is in the three-way catalytic converter, specifically for reducing smog-forming NOx emissions.
Rhodium demand in the US is strictly governed by EPA Tier 3 emission standards and the even tighter California CARB (California Air Resources Board) regulations. These stringent standards require heavier loadings of rhodium per vehicle.
In recent years, the staggering price of rhodium and palladium sparked a nationwide epidemic of catalytic converter thefts. Thieves targeted vehicles (such as the Toyota Prius) known to have high PGM loadings, sawing off converters to sell to illicit scrap yards. This crisis underscores the immense concentration of value within a single automotive component. Meanwhile, the Federal push toward Battery Electric Vehicles (BEVs), which use no rhodium, serves as the primary long-term headwind against rhodium demand.
IRS capital gains tax guidelines, dealer availability, and IRA restrictions
In the United States, the IRS classifies physical rhodium as a "collectible." This means long-term capital gains are subject to a maximum tax rate of 28%, significantly higher than the standard 15% or 20% rate applied to stocks or real estate. Furthermore, while the IRS allows certain highly pure gold, silver, platinum, and palladium products to be held in a Precious Metals IRA, rhodium is broadly excluded by custodians due to a lack of approved, standardized minted products. Investors should consult a CPA before purchasing.
The rhodium price in the USA today is approximately $9,050 per troy ounce and $291.00 per gram. Since rhodium is traded globally in US dollars, there is no exchange rate conversion required for American investors.
No. Unlike platinum and palladium, which have highly liquid futures contracts traded on the NYMEX (part of the CME Group), rhodium has no active futures exchange. It trades entirely over-the-counter (OTC) between industrial consumers, chemical refiners, and specialized dealers, which contributes to its extreme volatility.
The IRS classifies physical precious metals, including rhodium, as "collectibles." If you hold physical rhodium for more than one year, any profit is subject to a maximum long-term capital gains rate of 28%. If held for less than one year, gains are taxed at your ordinary income tax rate.
Generally, no. While IRS regulations permit certain highly refined platinum and palladium bullion products in a self-directed Precious Metals IRA, rhodium is highly problematic. Most IRA custodians will not accept physical rhodium because it lacks recognized minted bullion products that meet strict IRS purity and standardized manufacturing criteria.
Major online bullion dealers like APMEX, JM Bullion, and Kitco occasionally sell rhodium. It is usually available as rhodium sponge (industrial powder enclosed in a vial) or occasionally as fractional minted bars (e.g., from Baird & Co. or PAMP Suisse). Be aware that premiums over the spot price are exceptionally high compared to gold or silver.
EPA Tier 3 emission standards, alongside stricter California CARB regulations, mandate dramatic reductions in tailpipe emissions—specifically nitrogen oxides (NOx). Because rhodium is the most efficient catalyst for neutralizing NOx, automakers have been forced to increase the rhodium loading per vehicle to comply with these rules, driving domestic demand.