A precious metal – that’s a precious metal, isn’t it? However, you should not understand the term precious metal quite literally. Gold is by far the best-known precious metal. But the list is long. The iridium, platinum metals platinum, osmium, palladium, ruthenium, and rhodium also belong to the precious metals. Also mercury and silver are in the wide sense, even if they have somewhat different properties.

What makes a metal a precious metal?

Precious metals stand out from base metals due to their resistance to corrosion. It means that precious metals do not react at room temperature with substances in their location, such as water or air. In contrast to iron, precious metals will not rust or oxidize. Only silver shows a minor reaction with hydrogen sulphide. A thin layer of black silver sulphide forms over time. On the other hand, the silver remains undamaged. You can remove the sulfide again with the right silver care.

We invest in precious metals mainly because it a hedge against uncertainties, a hedge against the unknown. Gold and Silver had been two of the consensus trade of 2020. Although theses have been grabbing the headlines, there is more to the precious metal market than just silver and gold.   Gold and silver are the main precious metals that most people would be aware of, but there are others we should look out as well. Gold and silver mainly jewelry and industrial use but are also heavily involved in investment. Platinum as well is something we should consider. Platinum jewelry makes up about 30% of the global platinum market in any one year. But combines with palladium and rhodium, they make up the main platinum group metals or PGM’s. They are mainly used for industrial applications and primarily as the auto catalyst in vehicle exhaust systems for emission and pollution controls. Platinum is also used in glass, petroleum and chemical manufacturing and is widely used in electronics.

Gold and silver tend to be driven by macro developments, whereas the other precious metals are much more driven by industrial movements and growth within the economy. Often, the amount of demand for PGM’s is actually exceeding supply so there’s often a deficit of these precious metals which drives the price even more higher. In gold we do not have this situation, same for silver. The price is actually driven by macro developments and the actual fundamentals of the market don’t have a great play in terms of the price movements.

A precious metal is a rare metallic chemical element of high economic value. Chemically, precious metals are less reactive that most elements. They have high luster and have higher melting points than other metals. Historically, precious metals were important as currency, but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum and palladium have an ISO 41217 currency code. The best known precious metals are gold and silver. While both have industrial uses, they are better known for their uses in art, jewelry and coinage. Other precious metals include the platinum group metals: ruthenium, rhodium, palladium, osmium, iridium, and platinum, of which platinum is the most widely traded. Precious metals in bulk form are known as bullion and are traded in commodity markets.

Bullion metals can be casted in ingots our minted into coins. The defining attribute of bullion is that it is valued by its mass and purity than a face value as money. Many nations mint bullion coins, of which the most famous is probably the gold South African Krugerrand. Although nominally issued as a legal tender these coins’ face value as currency is far below that of their value as bullion. For instance, the United States mints a gold bullion coin known as the Gold Eagle at a face value of $50.00 containing one troy ounce of gold. Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contract of a particular metal. Another way to gain investment exposure to precious metals is to purchase shares in publicly traded companies that deal in the exploration and production of precious metals such as a gold mining company.

Rare, beautiful and uniquely beautiful makes precious metals so precious and valuable.  The Platinum group metals are used in medical devices and implanted in the body for this reason. Stent lean wires and heart electrodes are also made of alloys of platinum and iridium due to their biocompatibility as well as their electrical conductive property. Medical devices and electronics like pace makers, defibrillators, MRI, and CAT scan machines all require gold silver, platinum and other platinum group metals to function. Precious metals are not only chemically inert but have catalytic properties as well. This has led to its earlier uses as fertilizer production then petrol chemical processing and now catalytic converters used to reduce emissions from industrial combustion processes as well as automotive exhaust.  Catalytic converters are well known to containing platinum that little realize that there are over 20 separate components in an average car that uses precious metals.

The high temperature strength and oxidation resistance make precious metals so valuable and so many electrical applications and components from spark plugs to electrical switches. Precious metals are incorporated in almost all consumer electronic including cellphones, computers and flat screen TV. The chemical property of these precious metals are also needed for a host of pharmaceutical products including a wide variety of anti-cancer drugs which are dependent on platinum. The highly develop Science and Technology of recovery and refining of precious metals ensure that these rare and important metals are reclaimed and recycled for new applications throughout the ages.

Precious metals are rare, beautiful and valuable. These metals are well known for their investment value as a worldwide currency commodity as well as their beauty in Jewelry. In the middle ages, alchemist sought to create gold and silver from common metals. Although they never succeeded, the researches resulted to many chemical, physical and medical developments. Gold and silver are the world’s well known and recognized precious metals. They have been mined, crafted and used by civilization around the world since recorded time. The rarity and lasting luster of these metals make them most desirable for coins, jewelry and art work. Joining gold and silver in the family of precious metals are the lesser known and even more rare metal element referred to as the platinum group metals. They include platinum, palladium rhodium, iridium, rubidium and osmium. The same unique properties which make these metals so desirable is ornamental jewelry have also lead to their use in other practical and industrial applications. The luster of precious metals is due their high resilience to oxidation and corrosion. These features lead to the use of silver and gold in dental work. Modern dental materials now use a variety of alloys containing gold, platinum and palladium as their strong underlying foundation for porcelain dental works. The inert properties of precious metals allow for biocompatibility.

We always hear of precious metals. They are precious because they are rare metallic element of high economic value. Chemically, precious metals are less reactive than most elements. They have higher luster and have higher melting points compared to other metals. Throughout time precious metals were significant as currency, but are now regarded mainly as an investment and industrial commodity.

Gold, silver, platinum and palladium holds an ISO 4217 currency code. The best and most popular precious metal are silver and gold. While both can be use industrially, they are also popular in their uses in art, jewelry and coinage. Other precious metal use for trade is platinum, ruthenium, rhodium, palladium, osmium and iridium.

Precious metals in bulk form is termed as bullion and are usually traded in commodity markets. Bullion metals may be casted into ingots or minted as coins.

Investing in precious metals can be done either by purchasing the physical asset or by purchasing futures contracts for the particular metal. Another way to invest in precious metals is to purchase shares in publicly traded companies that deal in the exploration or production of precious metals such as a gold mining company.

Platinum is the most precious metal on earth. It has been worth more than gold. It is commonly used in electronics and in the chemical industry. This precious metal has a very high density which is 8.5 percent more than gold. Platinum does not oxidize even when heated in extreme temperatures. Platinum is also used as a decorative property as well as a catalyst in the chemical industry since platinum is a very soft metal. The property of platinum as a catalyst is used in many processes.

Here are some ways of how the property of platinum as a catalyst is used:

• It increases the octane number in gasoline.
• It is used in the production of margarine by separating the hydrogen and vegetable oil.
• Metal organic compounds of platinum are used to control cancerous tumors
• Organic compounds of platinum are commonly used as a part of the magnetic layer in hard drives.

Platinum is indeed a very good investment!

The precious metal platinum is very valuable, even more expensive than gold. It is also popularly called white gold or the noble metal. It is valued by many because of its many uses. Platinum is used for jewelry, pacemakers, electrical contacts and even medications. Its value is high because it is very rare. It has an attractive color of silver and white compared to silver, platinum does not lose its luster. It does not tarnish or corrode even if exposed to chemicals like common acids, chlorine, bleach or detergents. Platinum is tougher than all the other precious metal. Platinum bonds easily with other elements.

Gold and beauty are words that go along well with each other. Since time in memorial the wealthy saw this precious metal not only for its value but for its luxurious and beautifying properties. It has been recorded that the famous Queen of Egypt, Cleopatra slept with a gold mask every night. She uses this to enhance her beautiful skin. The ancient Chinese also used this precious metal to renew one’s youth and beauty. Royalties like the Queen of the Ch’ing dynasty used a gold massage roller to rub her face daily. In the ancient Rome, gold salves were used for a variety of skin problems. For thousands of years, pure gold has been used by the wealthy as the secret to more youthful and beautiful skin.

Without knowing we use precious metals in our daily lives. It plays a big function in today’s technology that influences on how we go about our daily routine. All these precious metals such as gold, silver and platinum have unique properties.

These precious metals are very useful because of these characteristics:

• High conductivity
• Very durable
• They resist corrosion and tarnishing
• High melting points
• They are very malleable and ductile
• It is physically and chemically resistant
• Has unique chemical reactions and optical qualities
• Energy stabilizer

Because of these unique properties it becomes very valuable. Aside from it being rare its chemical properties are also very special.