New uses for precious metals have been stemming from the health, energy, and electronic industries.
Gold is well known for its demand in jewelry however its also used as an industrial metal for the production of windows. Gold is sprayed onto windows to give them that lustrious gold reflection.
Silver contains anti-bacterial properties and researchers have found that silver can be used as a biocide. Burn units in hospitals use bandages that release silver ions that help with healing and reduce the need for frequent dressing changes. Silver is also used in windows and wearable technologies. Silver is essential for the production of solar panels.
Platinum is in high demand in the jewelry market however its also an industrial metal due to its high resistance to corrosion. Platinum is used in catalytic converters, laboratory equipment and thermometers.
Palladium is primarily used for industrial purposes although it is used in jewelry as well. One of the most recent uses for palladium is batteries.
Precious metals coins and bars that are investment grade 99.9% pure are permitted to be included in Individual Retirement Accounts.