What is meant by precious metals

Precious metals are metals that command a relatively high price in the financial markets, usually have a special purpose, and are considered valuable to some extent. Such metals are often noted for their unique properties, such as corrosion resistance, electrical conductivity, rarity, or applications in specific industrial and technological fields. Major precious metals include gold, silver, platinum and palladium.

Precious metals have a wide range of applications in both investment and business. They are used not only in jewelry and artwork production, but also in high-tech industries such as electronics, medical devices, and automotive catalytic converters. Because some precious metals remain stable under particular conditions, they are also considered a safe-haven asset, and investors may turn to these metals to preserve their value in times of economic uncertainty or rising inflation.

Participation in the precious metals market includes buying physical metals, investing in precious metals funds (ETFs), and trading futures. The prices of these metals are influenced by supply and demand, global economic conditions, geopolitical factors, and many other factors.