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Precious metals are mined; they are rare natural metallic elements with high economic value. Precious metals are found in nature as individual elements. Scientists have gathered all the elements found in nature and classified them into a table called the Periodic Table of Elements.
The periodic table of elements is divided into eight categories; Nonmetals, Transition Metals, Rare Earth Metals, Halogens, Alkali Earth Metals, Other Metals and Inert Elements. The most known precious metals are the coinage metals, gold and silver. The other precious metal divisions correspond to the platinum group: platinum, palladium, rhodium, ruthenium, iridium and osmium.
Precious metals are located in the far right limit of the Transition Metals, to their right, the other metals are located. The price of precious metals is driven by two factors; their particular use and their role as investments and store value. Precious metals command much higher prices than other industrial metals.
They are considered precious metals, in nature, because of certain properties that they have in common, adding to their rare and limited deposits. This course focuses on three of the precious metals; gold silver and platinum.