Precious Metals
Gold and silver are rare metallic chemical factors that fetch high and durable economic value. They're less reactive than most elements and are made distinct by their luster as well as their high melting points. The best known metals are silver and gold whose uses range widely from jewelry to coinage to art, and in yesteryear years, have been recognized for their industrial significance too. Platinum, which was basically a waste product, has become becoming one of the most widely traded precious metals and can include ruthenium, rhodium, palladium, osmium, and iridium. The nature of precious metals might be derived from the truth that they are very scarce and different among other commodities that also account for their quality to become judged to be of effective value, thus, a measure of wealth. It is also vital that you take into account that not all gold and silver stay precious forever. This relies on their availability and new ways of refining or perhaps creating such. Take aluminum, for example, once hard to separate from ore, it was once the most challenging metal to obtain despite being one of the most common. Its status, which once place it above gold, dropped significantly when a simple aluminum extraction method was discovered within the late 1800's.

Silver
Fluctuations regarding the rarity of metals rely on demand. Silver, for one is in a supply deficit, using more silver than it is mined, and is then projected to cost more than gold in the near future.

Aside from rarity, other common characteristics of metals for example uses, easy storage, similar origin and historical value are thought as criteria for being distinguished as precious metals. It's also hard to deny the economic uses of gold and silver which will make them even more appealing. Finding new ways to use them increases their market value in the trade and commodity market.