What Are Precious Metals?

Precious metals are a class of metals that are rare and valuable, with some having been used as currency since ancient times. They are often seen as a symbol of wealth and status, and many people invest in them for their perceived value. In this blog post, we will explore the different types of precious metals, their properties, and why they are so valuable.

What Are Precious Metals?

Precious metals are a group of rare metallic elements that have high economic value due to their rarity and unique physical properties. The most common precious metals include gold, silver, platinum, palladium, rhodium, iridium, and ruthenium. These metals have been used for centuries as currency and for jewellery due to their durability and aesthetic appeal.

Properties of Precious Metals

The primary reason why precious metals are so valuable is due to their rarity. Gold is the most abundant precious metal on earth but it still only accounts for about 0.003% of the earth’s crust by mass. This means that it is relatively scarce compared to other elements like iron or aluminium which can be found in much higher concentrations in nature. Additionally, the unique physical properties of these metals make them ideal for use in jewellery making and electronics manufacturing which further increases their value as an investment asset class.