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Rhodium Price API
Real-time rhodium spot prices in 180+ currencies.
Rhodium's dealer bid fell $75 to $8,550 an ounce on Thursday, Oct. 29, its first change in a week, as palladium, the other metal used mainly in car exhaust catalysts, fell below $1,000.
The ask dropped by the same amount to $9,550, according to Metal Sentinel's rhodium price API. The quote had stood at $8,625 bid and $9,625 ask since Oct. 22. Both prices were unchanged early Friday, leaving rhodium down about 0.9% for the week.
A step down after the Fed
The cut came the day after the Federal Reserve held its benchmark rate at 3.75% to 4% and left a December hike open. On the same morning, the Commerce Department reported that the personal consumption expenditures price index rose 3.6% from a year earlier in September.
The metals that trade on exchanges fell further. Spot gold was down 2.6% early Friday at about $3,915, and silver dropped below $50 for the first time since November 2025.
Platinum was down 4% early Friday at a $1,422 bid. Palladium's bid stood at $956, down about 7% from $1,026 a week earlier, after it first printed below $1,000 on Tuesday, Oct. 27.
Rhodium has no futures market. A small number of refiners and dealers set a bid and an ask and change them when physical business clears, so the price moves in steps. Dealers lowered the bid this week without testing $8,500, the level that held through mid-October.
The spread between bid and ask stayed at $1,000, about 11% of the mid price and the widest among the metals Metal Sentinel tracks.
Supply and demand
South Africa produces about 80% of the world's primary rhodium. Heraeus expects the country's output to slip to about 540,000 ounces this year from 555,000 in 2025.
Autocatalysts account for about 85% of demand. Johnson Matthey forecasts a surplus of about 15,000 ounces in 2026 after a deficit in 2025, and Heraeus has set its price range for the year at $6,000 to $9,000.
Levels for the week of Nov. 2
Support: $8,500, the bid that held through mid-October, then $8,325, the bid at the start of October.
Resistance: $8,625, where the bid stood until Thursday, then the mid-October high of $8,850.
Metal Sentinel expects dealers to keep the bid between $8,500 and $8,625 next week unless palladium falls further. The October jobs report on Friday, Nov. 6, is the main U.S. data release, and it will matter more for palladium and gold than for rhodium directly.
Rhodium's 12-month bid range is $7,200 to $10,600. For next week's precious metals outlook, see the gold price forecast for Nov. 2-6. Palladium's earlier slide is covered in the palladium recap for Oct. 19-23, and live prices are on the palladium price API page.
Metal Sentinel's rhodium price API publishes live bid and ask prices in more than 180 currencies.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always perform your own due diligence before investing in precious metals.