A precious metal is a rare metallic chemical element of high, durable economic value. These metals are very malleable, highly resistant to corrosion, excellent reflectors of light and conductors of heat and electricity. They were historically important as currency, but are now primarily regarded as investment and industrial commodities. This tutorial looks at the fundamentals of trading in the various precious metals markets: gold, silver, platinum, and palladium.

Objectives
On completion you should be able to:

• Describe the key features of precious metals and the participants in the precious metals market
• Explain the fundamentals of precious metals pricing, and identify the various elements that affect prices
• Describe the process of hedging and trading in the precious metals market