What are precious metals

Precious metals are naturally occurring metallic elements that are rare, economically valuable, and often have unique properties, such as resistance to corrosion and oxidation. They are highly sought after for use in jewelry, electronics, medical devices, and industrial applications.

Some of the main precious metals include:

1.Gold (Au) – Known for its use in jewelry, currency, and electronics.

2.Silver (Ag) – Widely used in coins, jewelry, and electronics.

3.Platinum (Pt) – Valuable for its industrial applications, particularly in catalytic converters and jewelry.

4.Palladium (Pd) – Used in catalytic converters, electronics, and hydrogen storage.

5.Rhodium (Rh) – Primarily used in automotive catalytic converters and in high-end jewelry.

6.Iridium (Ir) – Known for its high density and corrosion resistance, often used in industrial applications.

7.Ruthenium (Ru) – Used in electrical contacts, solar cells, and as a catalyst in chemical reactions.

8.Osmium (Os) – A dense, hard metal used in some specialized applications, like electrical contacts and fountain pen tips.

These metals are typically traded on financial markets and are often seen as a store of value, especially in times of economic uncertainty.