Precious metals are rare, naturally occurring metallic elements that have high economic value. The most well-known precious metals include gold, silver, platinum, and palladium. These metals are often used in jewelry, electronics, and as investment assets due to their durability and resistance to corrosion. Investors often turn to precious metals as a hedge against inflation and economic uncertainty. Their scarcity and intrinsic value make them a popular choice for diversifying investment portfolios. Additionally, precious metals are also used in various industrial applications, including catalytic converters in vehicles and electronics manufacturing.