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:
“I do not see why, since America and her autumn woods have been discovered, our leaves should not compete with the precious stones in giving names to colors; and, indeed, I believe that in course of time the names of some of our trees and shrubs, as well as flowers, will get into our popular chromatic nomenclature.”
—Henry David Thoreau (1817–1862)
“There were metal detectors on the staff-room doors and Hernandez usually had a drawer full of push-daggers, nunchuks, stun-guns, knucks, boot-knives, and whatever else the detectors had picked up. Like Friday morning at a South Miami high school.”
—William Gibson (b. 1948)