preciousmetal

Precious metals are a subset of metallic elements valued for rarity, durability, and aesthetic appeal. They have long been used in jewelry, currency, and high-value investments, as well as in industrial applications. The most widely recognized members are gold, silver, platinum, and palladium. Some classifications extend the category to include the platinum-group metals—ruthenium, rhodium, palladium, osmium, iridium, and platinum—because of their scarcity and catalytic properties.

Gold is highly ductile, malleable, and chemically inert under many conditions, making it a durable store of value. Silver has the highest electrical conductivity of any metal and is widely used in electronics and photography. Platinum-group metals are exceptionally resistant to corrosion and possess high melting points; they are crucial catalysts in catalytic converters, chemical processing, and petroleum refining.

Precious metals are typically mined as byproducts of other mining operations. Production is geographically concentrated in a few countries, with significant outputs from South Africa, Russia, Canada, Australia, and China. Recycling from electronics and spent catalysts also contributes substantially to supply.

Prices for precious metals are determined by a mix of scarcity, industrial demand, monetary policy, and investor sentiment. Gold is commonly viewed as a hedge against inflation and currency risk; the industrial metals—platinum, palladium, rhodium, ruthenium, iridium, osmium—experience price moves tied to manufacturing cycles and automotive demand. Trading often occurs in bars, coins, futures, and exchange-traded funds.

Environmental and ethical considerations accompany mining and refining, prompting initiatives for responsible sourcing, fair labor practices, and recycling.