Precious metals are rare, naturally occurring metallic elements with high economic value. They are often characterized by their luster, malleability, ductility, and resistance to corrosion. The most commonly recognized precious metals include:

• Gold (Au): Known for its enduring value and cultural significance, gold is used in jewelry, coins, electronics, and as a store of value.
• Platinum (Pt): Platinum is a dense and corrosion-resistant metal. It is used in catalytic converters, jewelry, and various industrial applications.
• Palladium (Pd): Like platinum, palladium is a member of the platinum group metals. It is often used in catalytic converters, electronics, and as an investment metal.
• Silver (Ag): Silver is valued for its conductivity, making it useful in electronics, photography, and the production of silverware and jewelry.
• Rhodium (Rh): Rhodium is a member of the platinum group and is primarily used in catalytic converters for automobiles. It is also used in some types of jewelry.

These metals are considered precious due to their rarity, aesthetic appeal, and industrial applications. They often serve as a store of value and are used for investment purposes, both in physical form (bullion) and through financial instruments like futures contracts and exchange-traded funds (ETFs). The value of precious metals can be influenced by factors such as supply and demand, economic conditions, geopolitical events, and inflation.