Most known precious metals are gold, silver and platinum Due to their rarity and special chemical composition they are considered economically valuable and are registered by the International Organization for Standardization (ISO) with currency codes. Nowadays worldwide financial instability has brought again economical interests on the commodity market, and especially in precious metals. With the fall-down of currency, stocks and bonds, people turn to physical ownership of commodities that can offer stability, solvency, and profit.
Mainly gold and silver (because platinum was discovered only in pre-Columbian period) are known for thousand of years in the manufacturing of jewelry, as objects of value, symbols of the riches and, they gradually turned from objects of trade into basic units of the pecuniary system. For example, the first silver coins were produced around year 700 BC and since then until the beginning of the 19th century, silver was largely used to set the currency standards.
Gold, on the other hand, though it wasn’t used as currency so much as silver, was always considered a store of value, a precious reserve. Platinum, due to the fact that it is the rarest of these rare metals is determined as the most precious of them in times of financial growth and stability. However, the price of platinum is largely dependant upon the industrial demand (especially high-class automotive industry), reason why in times of economical decline the worth of platinum goes below the price of gold.
Today, silver still remains valuable but its price is at about 1/75th of that of gold. Looking back in time, the worth of silver (like the value of platinum) proves to be generally unstable. Overall, from a plain perspective, one may say that gold sets the balance between the two extremes represented by platinum and silver.
Professionals’ consider that purchasing gold bullion may well be the secure way to hedge your wealth. Gold has proved throughout time to preserve its rate on a worldwide scale. The worth of the yellow glittering bullion is not subject to the symbolic or notional value (such as currency) being only dependant on the mass and purity of the high luster metal that forms the bullion.
Learn from professionals how to buy gold bullion in times of recession.
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MLA Style Citation:
Harrison, Paul J. "Gold – The Most Precious Metal." Gold – The Most Precious Metal. 25 Jun. 2010. uberarticles.com. 6 Feb 2016 <http://uberarticles.com/finance/investments/gold-the-most-precious-metal/>.
APA Style Citation:
Harrison, P (2010, June 25). Gold – The Most Precious Metal. Retrieved February 6, 2016, from http://uberarticles.com/finance/investments/gold-the-most-precious-metal/
Chicago Style Citation:
Harrison, Paul J. "Gold – The Most Precious Metal" uberarticles.com. http://uberarticles.com/finance/investments/gold-the-most-precious-metal/
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