There are eight metals that are considered precious. They are gold, silver, platinum, palladium, rhodium, ruthenium, iridium and osmium. Of the precious metals that are not gold or silver, platinum is the most traded. The four main precious metals are gold, silver, platinum and palladium.
Below is what makes a metal precious compared to other metals, plus a list of precious metals. There are many ways to buy precious metals such as gold, silver, platinum and a lot of good reasons why you should surrender to treasure hunting. The best way to invest in precious metals is to buy the metal directly and maintain physical shape or buy ETFs that have significant exposure to precious metals or companies involved in the precious metals business. For commercial buyers, precious metals can also be an essential component for products such as jewelry or electronics.
The most well-known precious metals are corrosion-resistant metals used in jewelry, currency, and investments. This means that even a small percentage of precious metals in a portfolio will reduce both volatility and risk. Other popular methods include buying futures contracts for a particular metal or buying shares in publicly traded companies engaged in the exploration or production of precious metals. Gold is the highest-profile precious metal and constantly generates a lot of attention from financial media as well as market participants.
Precious metals are mined and traded as a way to protect against inflation and offer the benefit of being able to invest in a physical asset. In the past, precious metals played a central role in the global economy because many currencies were physically minted with or backed by precious metals, as in the case of the gold standard. Precious metals used in industrial processes, on the other hand, include iridium, which is used in special alloys, and palladium, which is used in electronic and chemical applications. But which precious metal is best for investment purposes? And more importantly, why are they so volatile? As an investment, precious metals are often sought to diversify portfolios and as a store of value, particularly as a hedge against inflation and in times of financial uncertainty.
Precious metals are metals that are rare and have a high economic value due to several factors, including their scarcity, their use in industrial processes, the hedge against currency inflation and their role throughout history as a store of value. This combination of rarity and functionality could make platinum the most precious metal of precious metals. Although they can carry a certain degree of security, there is always a certain risk when investing in precious metals. Copper is sometimes classified as a precious metal because it is used in currency and jewelry, but copper is abundant and oxidizes easily in humid air, so it is not particularly common to see it considered precious.