Some precious metals on the market include gold, silver and platinum, states Investopedia.com. These valuable metals are commonly traded on commodity markets in bulk form, which is referred to as "bullion."
Precious metals are chemical elements that infrequently occur in nature and are mined for their high commercial value. Precious metals are popular investment items that can be in the form of metal bars and coins. Additionally, people may invest in precious metals to set up their individual retirement accounts, which enable them to hold tangible financial assets, notes SBCGold.com.
Gold is perhaps the most popular precious metal available for buying and selling on the exchange market. Its value is regularly monitored close to seven days a week on an around-the-clock basis. Some factors that may impact the trading price of gold include armed conflicts, political crises, economic instability and rate of inflation, explains Investopedia.com.
Aside from gold, silver is also commonly used as a base in jewelry making. Other applications for this precious metal include coinage, electronics and medical products. In terms of market value, silver tends to vary widely compared to gold. Platinum, meanwhile, is likely to yield a higher value than gold in certain circumstances such as in times of political stability. Other precious metals on the market include palladium, rhodium, iridium, osmium and ruthenium, states CBMint.com.