What are precious metals and which ones are the most valuable?

The precious metal is a rare metal that has high economic value due to several factors, including its scarcity, use in industrial processes, protection against monetary inflation, and role throughout history as a store of value. Additionally, these acquisitions allow investors to acquire tangible assets to diversify their investment portfolios gold ira companies.

Rhodium  is an extremely hard and corrosion  resistant silver/white metal PGM. It is used in catalytic converters, automotive, jewelry and plating. Companies mine approximately 30 metric tons of rhodium in South Africa and Russia each year.

Iridium  is another PGM with a silver/white appearance. It is the second densest material after osmium and extremely rare: more iridium is found in meteorites than in the Earth's crust. We use it in electronics, medical equipment and to produce green hydrogen energy.

Palladium  is another silver/white PGM that has the lowest density and melting temperature (1,554.9° C ) within the platinum family. It is ductile and malleable, used in jewelry, electronics, dentistry and, like many in the platinum family, automobile exhaust.

Gold  is the most popular commodity among precious metals investors, especially when stock markets and currency markets record losses . Most gold has a yellow appearance, but there are color variants including black, ruby, and purple. It is highly desirable in jewelry as well as an investment.

Platinum   is silver/white in color and reflective . It is malleable, ductile, dense and one of the least reactive metals, with a melting temperature of 1,768 °C. We use platinum in jewelry and electrical contacts and it is the most abundant PGM.

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