Gold Price Blog

There are quite a number of metals that fall into the precious metals category. The obvious precious metals are of course gold and silver. Platinum is there too as well as palladium, rhodium and a few other not so familiar to most people. On the flip side are the base metals such as lead, iron, aluminum, copper and nickel.

There are two types of metals for investment: precious metals as opposed to base metals. Precious metals include gold, silver, platinum, and some other less known materials such as ruthenium, rhodium, palladium, osmium, and iridium. Base and/or industrial metals include copper, nickel, aluminum, zinc, lead, and iron/steel. The reasons for investing in precious metals and base metals can be very different. But their prices are correlated nevertheless because of inflation.

The most well-known precious metals are gold and silver, but a precious metal is any rare metallic chemical element of high economic value. Throughout history precious metals have been traded as currency, but now they are generally regarded as a form as investment and many are also traded and used as industrial commodities.

The most well-known precious metal coin is the South African Krugerrand which is made of gold. With bullion coins the face value of the coin for legal tender can be well below their value as bullion, determined by their weight and purity. An example is the Canadian Gold Maple Leaf Coin which has a legal tender face value of $50, but contains one troy ounce of gold, making it worth several hundred dollars as bullion.

These are just a few of the options you have on precious metals investing, there are a great deal more and each one deserves some thorough investigating so you are making informed decisions. If you need professional help then seek it out, you will be glad you did in the long run.