A metal is deemed to be precious if it is rare. The discovery of new sources of ore or improvements in mining or refining processes may cause the value of a precious metal to diminish. The status of a "precious" metal can also be determined by high demand or market value. Precious metals in bulk form are known as bullion and are traded on commodity markets. Bullion metals may be cast into ingots or minted into coins. The defining attribute of bullion is that it is valued by its mass and purity rather than by a face value as money.
Canadian fund manager Eric Sprott believes the prices of gold which is processed with the help of cone crusher and silver will revert to their climbs in value and he told an audience those predictions last week, according to Mineweb.
The corrections with both precious metals that we have seen as of late are only temporary and both the yellowish metal and the whitish metal markets are poised to climb again, he told the New York Hard Assets Investment Conference.
He primarily pointed to economic stimuli as to why the precious metals will increase in value in the near future, which could be of note for operational planning at gold and silver mines. He cited interest rates, noting they "for sure are manipulated," and said government stimuli also will drive up the price of gold and silver. Additional areas he noted are the enormous losses to JP Morgan, financial repression and the sovereign debt crisis" continued thrashing at euro zone nations" banks, markets and public finance systems.
He said Spain will fall into place where Greece presently is but also directed attention to the economic struggles of Portugal, noting they are akin to falling dominoes - of which he is positively sure. single toggle jaw crusher:http://www.hxjq-crusher.com/1.html
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He said the banking systems are in for a rough time, noting that former U.S. Treasury Secretary Henry Paulson spoke of closing down the banking system in 2009. For that reason, gold serves as the perfect site where people may safely store their funds.
Sprott"s opinions aren"t too dissimilar to those of Leonard Melman, who told The Gold Report that European troubles will only get worse.
A precious metal is a rare, naturally occurring metallic chemical element of high economic value. Chemically, the precious metals are less reactive than most elements. They are usually ductile and have a high lustre. Historically, precious metals were important as currency but are now regarded mainly as investment and industrial commodities. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.
The best-known precious metals are the coinage metals gold and silver. While both have industrial uses, they are better known for their uses in art, jewellery and coinage. Other precious metals include the platinum group metals: ruthenium, rhodium, palladium, osmium, iridium, and platinum, of which platinum is the most widely traded.
Assortment of precious metals
The demand for precious metals is driven not only by their practical use but also by their role as investments and a store of value. Historically, precious metals have commanded much higher prices than common industrial metals.
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