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Precious Metals

The precious metal complex

Scarcity is at the core of economics. Precious metals are deemed to be 'precious' due to the relative lack of supply versus the more abundant industrial metals. To give this limited supply some context; you can fit all of the gold ever mined in human history into two Olympic sized swimming pools. Supply is extremely limited and there has been demand for these metals for thousands of years. This is reflected in the higher pricing of precious metals versus their industrial metal counterparts.


The precious metals consist of gold, silver and the platinum group metals (PGMs) platinum, palladium and rhodium. As well as storing value, these assets do have some industrial and commercial uses. Silver is used heavily in consumer electronics while the auto catalyst industry is responsible for the majority of demand for platinum and palladium.