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Glossary

Precious metals

Category — General Notions

Precious metals are rare chemical elements that are not subject to corrosion and oxidation. Also, a number of these metals are exchange-traded commodities and are most commonly used for investment purposes.

Gold is a precious metal with yellow color; as a chemical element it is denoted by the symbol Au. The stock code is XAU.

Silver is a white bright metal, the chemical symbol is Ag. The stock code is XAG.

Platinum is a silvery-white metal, denoted as Pt. The stock code is XPT.

Palladium is a silvery white metal named Pd. The stock code is XPD.

For investors gold and silver are a protective asset, because precious metals often grow even during the fall of the stock market. For long-term investments, gold and silver allow investors to protect their savings from inflation. The most popular investment object is gold. It is kept in the reserves of central banks all over the world. Historically, this is the most common form of accumulation of wealth. Silver is in second place. It’s very affordable. Banks offer it both in bullion and in coins. Like gold, silver goes up in value during an economic downturn or crisis. Platinum and palladium have been in circulation only in the last hundred years, and are not yet as common and accepted as silver and gold as savings instruments. These metals are used more in industry, and therefore demand and prices for them increase during times of general economic growth.
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