Gold and Other Precious Metals

Among all existing metals there are a few rare metals that exhibit particular chemical properties (largely known as chemical stability) due to which they are considered economically valuable. Most notorious precious metals are gold, silver and platinum (less known being the platinum group which includes palladium, rhodium, osmium, and ruthenium).

Discovered from ancient times, sometime around year 4 000 BC, gold and silver are best known for their usage in coinage and jewelry. Whereas, the existence of platinum was first recorded in the 15th century AD and due to the fact that this metal is extremely rare its popularity and use is much more limited than that of gold and silver.

In comparison with the other metals, gold, silver and platinum display a much higher resistance to corrosion, increased malleability, great ductility capacity, higher melting points, and constancy in color. However, these three pure metals that are registered in the International Organization for Standardization (ISO) with currency codes and have a variety of applications because of their special chemical composition. Thus, gold and silver are generally used in medicine, industry, and electronics; while platinum has a reduced application especially in the chemical industry, particularly in automotive production (but also in the manufacturing of watches, medicine, and electronics).

Nonetheless, all three pure metals are primarily used as investments, store of value, and in the manufacturing of jewelry. They all are first-rate commodities considered by all people a means of wealth. However, set side by side gold takes the lead. From a simple perspective, one may say that gold represents the balance between the two extremes of platinum and silver. On one hand, platinum is rare and its price is mainly influenced by the industrial demand (hence in times of economic growth its price is about twice the price of gold, whereas during financial instability the price of platinum is below that of gold). On the other, silver, although valuable and popular, is much cheaper and, implicitly less treasured in comparison to gold. All in all, across history the yellow metal proved the largest pecuniary stability, and, nowadays on the international market gold is the one which sets the standards.

Altogether, investments in precious metals represent one of the best options in these financially tough times. There are many investment opportunities and means, but acquiring the precious metals in the form of bullion seems to be the best choice because the worth of bullion is not subject to face value (namely symbolic, notional value). The bullion worth resides only in its mass and purity (that is karats). Resort to professionals for valuable pieces of advice on precious metals. However, purchasing gold bullion is considered the unrivaled hedge for your wealth and, also a safe investment for your future.

Source by Paul James Harrison

Gold and Other Precious Metals