A precious metal is a rare, naturally occurring metallic chemical element of high economic value. Chemically, the precious metals are less reactive than most elements. They are usually ductile and have a high lustre. Historically, precious metals were important as currency but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.
The best-known precious metals are the coinage metals gold and silver. While both have industrial uses, they are better known for their uses in art, jewellery 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.
The demand for precious metals is driven not only by their practical use but also by their role as investments and a store of value. Historically, precious metals have commanded much higher prices than common industrial metals.
Read more about Precious Metal: Bullion, Aluminium, Bismuth and Tellurium, Rough World Market Price ($/kg)
Famous quotes containing the words precious and/or metal:
“For precious friends hid in death’s dateless night.”
—William Shakespeare (1564–1616)
“We are supposed to be the children of Seth; but Seth is too much of an effete nonentity to deserve ancestral regard. No, we are the sons of Cain, and with violence can be associated the attacks on sound, stone, wood and metal that produced civilisation.”
—Anthony Burgess (b. 1917)