Over the years, precious metals have proved to be a great investment. There has been a steady increase in the use of these metals. Precious metals are natural metallic chemical elements that have high economic value.
They are less reactive when in contact with air or liquid than other elements. Gold, silver, indium, palladium, rhenium, rhodium, osmium, and platinum are some of the commonly used metals. The valuable metals are used in different industries such as the jewelry, electronics, and value exchange industries.
Metals such as gold have been considered the noblest metal in the world. Most cultures in the world have embraced the idea of investing in these valuable metals. You can visit https://www.bondsonline.com/usagold-review/ for more information on precious metals and their wide usage in the world. Here is the list of the most precious metals in the world.
Gold
Gold is known to be the noblest metal in the world. It is commonly used in the jewelry and coinage industries. Gold is also a safe investment that will benefit you financially, socially, mentally, and emotionally. There is always a ready market for gold. Many investors turn to gold during hard times.
One of the advantages of gold is that it is highly liquid, portable, a superb hedge against inflation, and is a tangible asset. It also brings short-term yields. Portfolio balance, low volatility, and simplicity are also other advantages of gold.
There are different ways in which you can invest in gold such as coins or billion, through exchange traded funds that own gold, futures, gold mining stocks, and through exchange traded funds that own gold mines. Note that there is no proper knowledge or training required in handling gold bullions and coins which makes it easier for new investors to get into this precious metal business.
Silver
Silver is widely known for its high value and metallic use in industries. Worldwide, this precious metal is used in the automobile industry, photography companies, solar energy industries, electronics, and electrical companies, and also in the jewelry business. Due to its values, silver is considered one of the best investments in the world.
There is always a continuous demand and a ready market. Investing in this highly valuable metal can be through buying stocks, owning a physical form in coins or bullion, investing in silver futures, or owning exchange trade funds. Since silver is one of the best coinage metals in the world, most investors are turning to this investment.
This metal never loses its shine and value making it a great long term investment plan. Silver American Eagles, Silver Washington Quarter, Kennedy Half Dollar, Walking Liberty Half Dollar, Eisenhower Dollar, Morgan Silver Dollar, and Silver Peace Dollar are some of the best silver coins you can invest in. Click here to read more.
Platinum
This precious metal is known for its corrosion resistance. Platinum has a metallic shine and incredibly lustrous look. This precious metal is commonly used in the electrical and electronics industry in the production of computer hard disks.
It is also used in the production of dental fillings, pacemakers, turbine blades, optical fibers, spark plugs, and also in making chemotherapy drugs that have been widely used to treat different types of cancers. On the other hand, platinum has its share of advantages.
First, this precious metal makes cars safe through the application of platinum cured silicones which protect, coat, and keep automotive airbags stable from an explosion. Secondly, platinum helps in improving hygiene because it is used in the production of care products such as shampoos, and lipsticks and is widely used to promote wound healing through the use of medical elastomers.
Lastly, this precious metal is used in the provision of power through the production of platinum-based fuel cells. You can invest in platinum by owning shares of mining companies and buying exchange traded funds.
Rhodium
This metal is known for its high reflective element and resistance to heat and corrosion. It has a silvery coat which makes it suitable for use in making reflective surfaces such as mirrors, jewelry, and the production of light.
This precious metal is very rare and is found in a few countries in the world. It is also classified as a noble metal due to its ability to resist reaction with oxygen and also acts as a catalyst. On the other hand, rhodium is used in the production of catalytic converters that are used in cleaning vehicle emissions.
When combined with other metals such as platinum and iridium, it is used to make metals that are resistant to high temperatures such as spark plugs for aircraft, phonograph needles, bearings, thermocouple resistance wires, and electrical contacts.
Iridium
This precious metal is known for its high melting point and its white sheen. Surprisingly, it is only found in South Africa. It is considered one of the densest elements in the world. This metal of high value is used in the automobile industry, pharmaceutical and electrical, and electronics industries. This metal can also be used as a catalyst metal.
When combine with other metals such as platinum and osmium, iridium is used in the production of compass bearing and alloys designed for tipping pens. Due to its silvery and shiny white color, this precious metal is commonly used in jewelry companies in the production of rings, earrings, and necklaces.
Investment in this metal would be ideal for individuals looking for an extra source of income. For example, a troy ounce of iridium was worth two thousand and fifty United States dollars in the year two thousand and twenty. These prices keep on rising due to the high demand and ready market.
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Conclusion
You will never go wrong with investing in precious metals. There is always a ready market for these metals and their demand is increasing every day. The above-discussed metals are some of the most valuable metals in the world. As technology keeps on advancing every day, there are new inventions of these metals.
The latest is their wide use in the pharmaceutical industry in the production of drugs such as cisplatin, oxaliplatin, and carboplatin which have been widely used in the treatment of cancer patients. Precious metals have many values such as economic, health, social and emotional benefits to individuals and also the society.