Precious Metals – How much can I get for my precious metals?
Some metals are known to be precious due to their rarity, naturally occurring chemical / metallic elements and high economic value. In some cases, some of these metals have been used as currency. Most notable precious metals tend to be less reactive and are corrosion resistant. These metals are mostly used in jewelry, investment and currency.
Here below are some of the popular precious metals being traded in the market.
Gold is the grand-est of them all. This precious metal neither rust nor corrode. Its intrinsic qualities make it an invaluable asset for investors. Gold value is derived from its karat, purity and colours. Learn more about the different types of gold and how its value is derived here.
Platinum is extremely rare. Naturally silver-white, the colour of platinum does not fade over time. Platinum does not tarnish and is durable. Because of its physical properties, platinum may exist in about 90-95% purity. Although highly prized, platinum suffers from liquidity issues unlike gold or silver, which are considered tangible monetary assess.
Silver is a silvery white precious metal. It has wide uses in industry because of its high electrical and thermal conductivity. A noble metal, silver resists corrosion and tarnish to a lesser extent than gold. Silver’s antimicrobial property and non-toxicity allows it to be used in medical applications. Its attractive lustre makes it a popular choice in jewellery. Like gold, silver enjoys high liquidity and is commonly traded in global markets.
Palladium is an extremely rare element that is part of the platinum group of metals. It is a known as a noble metal because of its resistance to corrosion and oxidation. Palladium is less dense than platinum. Naturally silver-white, it does not tarnish when worn. Palladium’s primary uses are in industry.