However, the unique applications of some of these materials can impact their price. Like most commodities, supply and demand places a huge role on the value of precious metals. Over 180 metric tons are mined annually from South Africa, Russia, Finland, Ireland, Borneo, New Zealand, Brazil, Peru, Madagascar, Canada and the pacific northwest in the United States. We use platinum in jewelry and electrical contacts and it is the most abundant PGM. It is malleable, ductile, dense and one of the least reactive metals, melting at 1,768☌. Platinum is silver/white in color and reflective.Interesting fact – seawater also includes trace elements of gold. We mine approximately 2,500 tons annually in South Africa, the Western United States, Canada and Russia. Gold is soft, malleable and has a lower melting point at 1,064☌. It is highly desirable in jewelry as well as an investment. Most gold is yellow in appearance, but there are variant colors, including black, ruby and purple. Gold is the most popular commodity among precious metal investors, especially when stock markets and currency markets post losses.We mine approximately 210,000 kilograms every year in South Africa, Russia, Canada, the United States and Zimbabwe. It’s ductile and malleable and used in jewelry, electronics, dentistry – and like many in the platinum family, auto exhaust. Palladium is yet another silver/white PGM that sports the lowest density and melting temperature (1,554.9☌) within the platinum family.South Africa mines most of the metal 16,100 pounds were mined in 2019. The melting point of this metal is much higher at 2,226☌. We use it in electronics, medical equipment and to produce green hydrogen power. It is the second most dense material next to osmium and extremely rare ─ more iridium is found in meteorites than in the earth’s crust. Iridium is another PGM with a silver/white appearance.Businesses mine approximately 30 metric tons of rhodium in South Africa and Russia every year. It’s used in automotive catalytic converters, jewelry and plating. Rhodium is a silver/white metal PFM that’s extremely hard, resistant to corrosion and a melting point of 1,964☌.Costliest metalsĪs of July 2022, these are the five most expensive metals: Several metals are part of the platinum group members (PGM’s), such as osmium, ruthenium as well as those of even greater value – iridium, palladium and rhodium. The most traded precious metal investments include gold, silver and platinum. “Precious metals” are desirable, rare elements with high value.Īcquisitions allow investors to procure tangible assets to diversify their investment portfolios.

Iridium metal stock