What Are Precious Metals?

Precious metals are naturally occurring metallic elements that are rare and have high economic value. They are valued for their durability, malleability, conductivity, and resistance to corrosion. The most commonly traded precious metals include:

• Gold: Known for its historical role as a store of value and medium of exchange, gold is highly sought after for investment, jewelry, and industrial uses.

• Silver: Often referred to as "the poor man's gold," silver has extensive industrial applications, including in electronics, medicine, and solar energy, in addition to its role in jewelry and as an investment.

• Platinum: A dense, malleable metal, platinum is used in automotive catalytic converters, jewelry, and various industrial processes. It is rarer than gold and silver, which often contributes to its higher value.

• Palladium: Similar to platinum, palladium is primarily used in the automotive industry to reduce vehicle emissions. Its demand has surged in recent years, making it a hot commodity in the precious metals market.