When gold hit a recorded high in August 2011, it was in everybody’s lips as the most precious metal. But within eight months the free fall of the price on gold shocked the market. Evidently, Platinum as precious metal couldn’t be dethroned that easily. For those who are interested in gem & jewellery there are valid reasons to tie up with Platinum and other white metals.
Let me give you the closing list of prices of precious metals on August 13, 2012 in U S $ per ounce as below:
Platinum 1,487
Gold 1,323
Rhodium 1,010
Iridium 850
Palladium 735
Ruthenium 80
Silver 21
As I said in the beginning gold hit the recorded highest price in August 2011 when it traded around US $ 1,909/- per ounce. But price for Platinum continued to fluctuate in a narrow range without much hiccups. Same is true for many other metals in the chart above. Except for Gold and Silver, other metals in the chart are collectively known as Platinum Group of Metals (PGM). That means Platinum, Rhodium, Iridium, Palladium and Ruthenium are bunched together. These metals are sought after by consumers and fabricators of gem & jewellery.
Some interesting facts emerge about PGM. A major salience is that all these metals appear in the Periodic Table under Transition metals category in line 5 & 6 due mainly because these have similar physical and chemical properties. All these are white or near white metals. PGM also includes Osmium which is not very much used in jewellery articles. Reportedly, Osmium reacts with oxygen at room temperature and being fairly volatile is said to harm human skin.
Second point is that PGM is divided into two sub-groups. Iridium sub-group includes Ruthenium, Osmium, and Iridium. Out of this Iridium is so pricey and ranks fourth in the above precious metals list. Next, Palladium sub-group nestles under it Rhodium, Palladium and Platinum. If you whet the chart once again, you will see all three metals perch on the top of the range. Overall, it is the Platinum Group of Metals that hold sway in the market today.
Silver is last in the pecking order. Nonetheless it shares a feature of being whitish metal with the PGM. The odd man out in the list is Gold which is of golden –yellow colour. White metals are extensively used in jewellery fabrication.
A good piece of jewellery made of precious metals is a treasure to be owned and relished. Apart from aesthetic and investment value, gem & jewellery has cosmics in abundance. This energy is enhanced when suitable cosmic gems embellish articles of jewellery. As you are aware gems & metals are great vibrators. Selecting the right gem alone is not enough; you have to zero in on the right metal as well. In this regard, white precious metals afford you variety. More than that there is price competitiveness too.
Cheers!
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