High valued metals are considered precious; but what constitutes a precious metal? A metal that is rare is typically categorized as a precious metal. Other variables that influence the worth of metals are high demands and market values. If precious metals come in bulk form, they are referred to as bullion, and traded on commodity markets. Bullion value is only determined by purity and mass; rather than its face value as money. Let’s take a look at the most popular high-priced precious metals and what purpose they serve in today’s society.

Rhodium

Rhodium is one of the most valuable metals in the world. It is a shiny and silver-colored metal that is mostly desired for its reflective qualities. It is often times used for mirrors, search lights, optical instruments, and jewelry varnishes. It is also widely used in the automotive manufacturing industry for its high melting points and its remarkable resistance to corrosion.

One kilogram of Rhodium has cost over 10,000 dollars in recent years; however, in today’s market, the price of this metal changes on a daily basis. As of January of this year, Rhodium costs between 1,100 and 1,300 dollars per ounce. For one kilogram of Rhodium, conglomerates pay upwards of 45,000 dollars or more, depending on the purity. South Africa and Russia are the dominate regions where Rhodium is found today.

Platinum

Engagement rings, dentistry, watchmaking, weaponry, and aeronautics are a few examples of popular uses for Platinum these days. Platinum is also found in South Africa and Russia; just like Rhodium, but it has also been found in Canada and a few other countries as well. It is most admirable for its malleability, density, ductility, and resistance to corrosion; just like Rhodium. It is a stunning silver-white metal with intense luster and shine. Often times it is mistaken for silver. One distinctive and interesting quality of Platinum is its ability to withstand large amounts of hydrogen.

Platinum is not a cheap commodity. As of today, platinum costs around 1,400 dollars per ounce; that’s 49,000 dollars for one kilogram! During stable economic times, the price of Platinum can easily exceed the price of Gold; whereas, in shaky economic spells, the price can drastically drop. Gold values are more stable during slow economic periods because its demand is not driven based on industrial use alone.

Gold

Gold is one of our world’s most popular metals and investment options. It is desired for its malleability, durability, and even more so for its beauty. For centuries upon centuries, gold has been a cherished and sought after metal; even before the human race could understand its actual worth. Gold is primarily found in China, South Africa, Australia, and the United States. Mining and panning are the common methods used to separate rocks and minerals from gold nuggets.

Gold has various uses, but is mostly associated with fine jewelry. An interesting fact is that gold actually has high conductivity levels, making it perfect for electronic components and more. It is also highly reflective and used for common products; from radiator shields to office windows!

Silver

Silver is one of the top most valued metals on the planet. It is a whitish-shiny metal that has the lowest contact resistance of all the metals discussed. It has phenomenal thermal and electrical conductivity capabilities; as well as, an endless list of uses.

Silver is probably most known for its common uses; such as coinage, jewelry, batteries, dentistry, circuitry, and even photography. However, there are several niche uses for silver that many people do not know about. For example, silver is also used as an odor-control solution for shoes and clothes, a mold treatment for wood, and more. It can even be used to stop the spread of bacteria on mobile phone covers.

As of May this year, silver is remaining steady at about 24 dollars per ounce. That equal to about 840 dollars for one kilogram. It is a fairly affordable metal, making it popular for jewelry and other material commodities. In the past, silver was valued much higher; reaching nearly 50 dollars per ounce in the eighties.

Indianapolis Metal Recycling

For more information about precious metals or recycling metal in Indianapolis, call Zore’s Recycling at 317-244-0700 today. Trust Zore’s to offer the most current information and price rates for precious metals in in Indianapolis, IN.