Precious metals refer to rare metallic elements known for their high economic value due to scarcity. Examples include gold, silver, platinum, and palladium.
Related terms
Currency: A standardized form of money accepted within a particular country or region.
Commodity: A raw material or primary agricultural product that can be bought and sold, such as gold, oil, or wheat.
Mining: The process of extracting valuable minerals or other geological materials from the earth's surface or underground.