Precious Metals: Gold, Silver, Platinum & Palladium Explained
We call gold, silver, platinum, and palladium precious metals because these metals exhibit high industrial demand, rarity, appearance, and high economic value. From ancient civilisations to modern industries, these metals have played a vital role in shaping economies, fashion, and technology. These metals are also used in digital currency.
What Are Precious Metals?
Precious metals are high-value metallic elements that are rare and chemically stable. Unlike common metals, they resist corrosion and oxidation. Precious metals are commonly used in the electronics, jewellery, and automotive industries.
Precious Metals: A Comprehensive Overview
Let’s explore the world of precious metals, their qualities, and their importance.
Table of Contents
1. Gold
Gold is a transition element and is admired for its beauty and long-standing role in finance.
- It is highly malleable and ductile
- widely used in electronic circuits in small amounts
- It is used in jet engines
- It is almost non-reactive and a good conductor of heat and electricity
- Strong investment option
- Commonly used in jewellery, coins, and electronics
2. Platinum
Platinum is a rarer metal than Gold. But it has high industrial demand due to its high strength and chemical resistance.
Platinum is widely used in:
- High-end jewellery
- Automotive catalytic converters
- Medical equipment and dental tools
- Lab and chemical equipment
3. Silver
Silver is a precious metal, and it has high thermal conductivity and antibacterial properties. Silver is less expensive and easily affordable than Gold and platinum.
Silver is used in:
- Jewellery and ornaments
- batteries and circuit boards
- TVs and computers
- Coatings for surgical tools
- Antimicrobial creams
- For Water purification
- Silverware and utensils
4. Palladium
Palladium is not as famous as gold and silver, but its white, shiny appearance makes it valuable in jewelry and watchmaking. But now palladium is the most precious metal in the world.
Palladium is widely used in various large industries like;
- Automotive industry
- Jewelery
- Electronic
- In medical (dentistry)
- Palladium is widely used as a catalyst
FAQ’s About Precious metals
The rarest and most precious metal in the periodic table is called rhodium.
In industrial terms, silver is more widely used due to its conductivity.
Look for hallmark certifications or get it tested by professionals.
Yes! It’s strong, hypoallergenic, and lasts a lifetime.
