Precious metals are a great investment and can be a good addition to your jewelry collection. While gold, platinum, and silver are the most popular and have been around for centuries, there are other options that may interest you. Here are a few of them to consider.
Gold
Gold and precious metals are used for many different things, including as a form of investment, as a hedge against inflation, and as a store of value. The price of these commodities is based on supply and demand. Some of the factors that influence the price of gold are geopolitical and economic.
Gold and other precious metals tend to rise when inflation is prevalent. When inflation increases, the purchasing power of currency is eroded. This may cause an economy to enter a recession.
Central banks are big investors in precious metals. Because of their ability to manipulate interest rates, they are able to push prices higher. In addition, they are often able to increase their monetary supply by printing more money.
Gold has been used as a store of value for thousands of years. It is a soft yellowish metal that can be used in jewelry, electronics, and other forms of industrial products. However, it has a relatively low return for those who mine it.
Silver is a more volatile commodity than gold. There is a limited amount of silver that can be produced in the world, which makes it an expensive store of value. A large portion of its demand is from the jewelry industry.
Other factors that affect the demand for precious metals include the threat of war. For example, in the case of a conflict, precious metals may be necessary for weapons and military equipment.
Investors also perceive the high costs associated with gold as a management fee. This can lead to bad reviews by investors who are not knowledgeable about these conditions. These costs can include taxation. They can be significant, especially if the investor needs to sell the assets in order to cover margin calls.
Platinum
Platinum is a highly conductive metal that can be found in jewelry, industrial applications, and electronics. It is also used for medical devices.
Platinum can be found naturally, in ores and placer deposits. It occurs as a mixture of six isotopes.
It has a high melting point, making it ideal for jewelry. In addition, platinum is corrosion-resistant and malleable.
Platinum is a rare element, making it a valuable investment. Historically, it has traded at a premium to gold. However, its value has changed in recent years, falling to a low of about $1,800 an ounce in 2010.
It has a bright white color and is highly conductive. Unlike other metals, platinum is a non-magnetic material.
The price of platinum is based on supply and demand. As demand increases, the price rises. Currently, the price is trading at about $924 an ounce. This is expected to continue rising over the next couple of years.
In terms of production, the bulk of platinum is mined in South Africa. Another large source is Canada. Smaller quantities are found in the United States and Zimbabwe.
In terms of uses, platinum is used in a wide variety of industrial applications, including fuel cells, turbine engines, oxygen sensors, and magnets. It is also used in chemical processing, dentistry, and lasers.
The jewelry industry is a major consumer of platinum. About a third of the platinum produced each year is for jewelry.
The automobile industry also uses platinum, particularly in catalytic converters. These catalysts remove pollutants from the exhaust gases in automobiles.
Although it is a rare metal, platinum has extensive industrial use. Besides the automotive industry, it is used in dentistry, chemical processing, and lasers.
Lithium, manganese and nickel
The lithium, manganese, and nickel markets are among the most volatile and complex in the industry. These three metals are essential to the battery powering the electric vehicle revolution. They are also important for a variety of applications.
Lithium is a key component in lithium-ion batteries, which are found in everything from electric vehicles to cell phones. Fortunately, there are a handful of companies that mine the stuff and the demand is expected to triple over the next five years. Despite this, the market is relatively small, and lithium supply chains are limited to Argentina, Chile, and Australia. You can find out more by clicking the link.
In the long run, the lithium industry will continue to expand to meet this growing demand. However, it could be a while before U.S. miners find their way into the limelight.
A recent study from the German Mineral Resources Agency suggests that the lithium, manganese, and nickel markets could be the next gold rush. While the lithium market is currently dominated by a handful of companies, the manganese and nickel markets are poised to grow exponentially in the years to come.
While the lithium, manganese, and nickel sectors will continue to boom, the mineral supply chain isn’t as robust as it needs to be. This is especially true for lithium, as the extraction process is limited to Chile and Argentina. As a result, the United States may not have the geologic reserves to satisfy its future metals needs.
Although the industry has a long way to go, it is a well-developed field with many companies competing for your business. With the right combination of marketing and savvy, your company can be a part of this exciting new industry.
Cobalt
Cobalt is a chemical element with a silver-grey color that has a crystalline form. This ferromagnetic metal is used in a variety of commercial applications. It is commonly used in rechargeable battery electrodes and as a component of magnetic alloys.
Cobalt is produced as a byproduct of copper and nickel mining. The main ore deposits are located in the Democratic Republic of Congo.
The cobalt market has seen a surge in demand in recent years. Rechargeable batteries for electric cars have increased demand. In addition, new cobalt refineries are opening in Europe and Asia. There are also plans to increase cobalt production in the US. However, there are some concerns about the DRC’s human rights abuses.
In the United States, First Cobalt recently bought a mine in Idaho. It hopes to begin producing cobalt in three years.
Cobalt is an important component in lithium-ion batteries. It conducts electricity well. Electric vehicles will further boost demand.
Cobalt is also an important component in magnetic recording media. It is also used to make catalysts.
Cobalt is used in various commercial applications, including aerospace applications, dyes, paints and magnets. It is also used as a trace element in medicine.
As the demand for rechargeable batteries rises, there is a need for more cobalt to be manufactured. Cobalt is used in batteries for all sorts of devices. Batteries with nickel-cadmium and lithium-ion are used in electric vehicles.
It is estimated that there are over 100,000 tons of demand for cobalt annually. However, analysts predict that there will be a shortfall by 2022. Therefore, companies are searching for alternative sources of supply.
Fluorite
Fluorite is a mineral that is composed of fluorine and calcium. It is used for a variety of purposes, such as smelting flux, enamels, and glasses. Some marbles are also made of fluorite.
Fluorite is found in various places around the world, including the United States. The mineral is often found in granites and pegmatites. In addition, it is also present in some metamorphic rocks.
Fluorite is a soft mineral that has a translucent appearance. It can be cut into many different shapes. A common shape is a cleaved octahedron. These octahedrons are popular in rock shops.
Fluorite is available in a wide variety of colors. Some of the most common are green, yellow, blue, and red. There is a rare form of blue fluorite that can change to purple.