Precious metal

Precious metal
A gold nugget
Main article: Precious metal

A precious metal is a rare metallic chemical element of high economic value.

Chemically, the precious metals are less reactive than most elements, have high luster and high electrical conductivity. 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 gold and silver. While both have industrial uses, they are better known for their uses in art, jewelry, 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. Plutonium and uranium could also be considered precious metals.

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. Palladium was, as of summer 2006, valued at a little under half the price of gold, and platinum at around twice that of gold. Silver is substantially less expensive than these metals, but is often traditionally considered a precious metal for its role in coinage and jewelry.







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