This Precious Metal Just Hit $20,000 an Ounce Posted January 25, 2021 Editor's note: This is an updated article we first published back in early December. The metal breaking through $20,000 an ounce is very noteworthy as the number itself serves as an important psychological barrier, shows COVID-19 supply distributions are still affecting prices of vital materials... and hints at potential growth in similar materials going forward. Supply disruptions stemming from the COVID-19 pandemic have sent prices of this precious metal skyrocketing to over $20,000 an ounce — that's more than 10 times higher than gold right now and 800 times more expensive than silver. Prices have increased some 400% in the past 12 months alone. And they still could be headed higher from here.