Precious metals are like a limited edition. They are particularly valuable, of course limited and extremely rare on the planet. You cannot reproduce them.
What makes precious metals so special?
Due to this limitation, the price increases in the long term, since supply and demand as well as the extraction costs determine the price. Extracting precious metals from mines is no longer profitable because the trading price is below the production costs. These costs mainly consist of wage and energy costs and are just as much a price driver as the constant increase in funding costs. Ultimately, therefore, tomorrow’s production costs will be higher than they are today.