How Much Is an Ounce of Iridium Worth?

Iridium stands as a rare and valuable precious metal, distinguished by its unique physical and chemical characteristics. This silvery-white element boasts exceptional density, ranking as the second densest naturally occurring metal after osmium. It also possesses an elevated melting point and considerable hardness, which contribute to its durability. These properties make iridium highly resistant to corrosion, even from potent acids like aqua regia, highlighting its significance in demanding applications.

Current Market Price

The price of iridium per ounce is notably volatile and experiences daily fluctuations. Unlike widely traded investment metals such as gold or silver, iridium’s market is primarily driven by industrial demand, leading to distinct pricing dynamics. As of late August 2025, iridium has been observed trading in a range of approximately $4,684.55 to $4,722.95 per troy ounce. This value represents a spot price, which can vary based on factors like purity, the physical form of the metal, and the specific dealer involved in the transaction.

The market for iridium is considerably smaller than that for other precious metals, with annual production around 7 tons, making its price particularly sensitive to supply and demand shifts. Consequently, historical data shows that iridium prices have experienced significant surges over recent years, at times surpassing the value of more commonly known precious metals.

Key Factors Influencing Iridium’s Price

Iridium’s price is influenced by its rarity and limited global supply. This metal is one of the rarest elements found in Earth’s crust, with concentrations of only a few parts per billion. The primary source of iridium is as a byproduct of platinum and nickel mining operations, predominantly located in South Africa, Russia, and Canada. This byproduct nature means that iridium’s production rates are not directly responsive to its own demand, but rather to the output of the primary metals it is associated with.

Demand for iridium stems from its role in various industrial applications. In electronics, it is used in components like spark plugs, crucibles for growing crystals, and hard disk drives due to its high melting point and corrosion resistance. The metal also serves as a catalyst in chemical manufacturing processes, including the production of acetic acid, and is increasingly utilized in green hydrogen production through proton exchange membrane (PEM) electrolyzers. Furthermore, iridium finds applications in medical devices, such as brachytherapy for cancer treatment and neural stimulation devices, as well as in high-temperature alloys for aerospace components like satellite thrusters. Shifts in these industrial demands or disruptions in the mining and refining processes for platinum and nickel can significantly impact iridium’s price, demonstrating its industrial rather than speculative market drivers.

How to Access Real-Time Iridium Pricing

Obtaining current iridium prices requires consulting specialized sources. Reputable precious metals dealers and suppliers often provide their current bid and ask prices on their websites. These prices represent what a dealer is willing to pay for iridium (bid) and what they are selling it for (ask).

Financial news outlets that specifically track industrial metals or provide commodity market data can also be valuable resources for real-time pricing information. Checking multiple sources is advisable to gain a comprehensive understanding of the market, as prices can vary between platforms and dealers. Some data providers may offer subscription-based services that provide historical trends and more in-depth market analysis for industrial metals, which can be useful for tracking price movements over time.

Methods of Acquiring Iridium

Acquiring iridium differs considerably from purchasing more common precious metals like gold or silver. For most individuals, direct investment in physical iridium is limited due to its specialized industrial market and high cost. The metal is primarily supplied to businesses in forms suitable for manufacturing, such as powder, wire, or various alloy compositions.

Specialized precious metals dealers may occasionally offer iridium in very limited investment forms, such as small ingots or sponge form. However, these opportunities are infrequent, and the market for such products is characterized by limited liquidity, meaning it can be challenging to buy or sell quickly without significantly impacting the price. Individuals or entities seeking to acquire iridium typically do so for specific industrial applications rather than as a general investment commodity.