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:
“We are born to do benefits; and what better or properer can we call our own than the riches of our friends? O, what a precious comfort ‘tis to have so many like brothers commanding one another’s fortunes!”
—William Shakespeare (1564–1616)
“And, indeed, is there not something holy about a great kitchen?... The scoured gleam of row upon row of metal vessels dangling from hooks or reposing on their shelves till needed with the air of so many chalices waiting for the celebration of the sacrament of food. And the range like an altar, yes, before which my mother bowed in perpetual homage, a fringe of sweat upon her upper lip and the fire glowing in her cheeks.”
—Angela Carter (1940–1992)