VALUABLE METAL Meaning and
Definition
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A valuable metal refers to a group of naturally occurring elements that possess high economic worth. These precious substances are characterized by their metallic properties, rarity, and desirability for various purposes. Valuable metals have been sought after and cherished by human civilizations for centuries due to their distinct features and practical applications.
The main distinguishing factor of valuable metals is their scarcity, making them limited in supply. This rarity contributes to their high market value as demand often exceeds the available quantity. Valuable metals are also known for their durability, luster, and resistance to corrosion, which enhance their functionality and allure.
These metals offer a plethora of uses across different industries such as jewelry, ornamentation, currency, electronics, and manufacturing. Gold, silver, platinum, palladium, and rhodium are amongst the most well-known and widely recognized valuable metals due to their historical significance, aesthetic appeal, and industrial importance.
Precious metals have also served as a store of value or hedge against inflation and economic instability. Many investors consider them as a safe haven asset, perceiving their long-term value retention and potential for capital appreciation.
The valuation of valuable metals is determined by market forces, including supply and demand dynamics, geopolitical factors, and investor sentiment. Their prices are often quoted in various currencies and measured in terms of weight, such as ounces or grams.
In summary, valuable metals are rare, metallic substances that possess high market value due to their scarcity, durability, and usage across industry sectors.
Etymology of VALUABLE METAL
The etymology of the word "valuable metal" can be understood by examining the origins of its constituent parts:
1. Valuable: The term "valuable" derives from the Old French word "valuable", which is derived from the Latin word "valere" meaning "to be strong, be worth". In English, this word came into use around the 16th century, referring to something that is highly esteemed or of great worth.
2. Metal: The word "metal" comes from the Latin word "metallum" or "metallus". This Latin term originally referred to a mine or quarry; however, it also became used to describe the substances obtained from mines, specifically metallic substances. In English, the word "metal" has been in use since the 13th century, referring to substances with specific physical properties, such as being shiny, hard, and having good electrical conductivity.
