Precious metal

The discovery of new sources of ore or improvements in mining or refining processes may cause the value of a precious metal to diminish.

Although the exact moment that the $1,075 figure[clarification needed] was determined is unknown, it may be considered a reasonable value for the time.

[9] Additionally, gold and silver nanoparticles are used in biosensors and solar cells, underscoring their value in sustainable technologies.

[10] Precious metals such as gold, silver, and platinum have been used for millennia to create objects of cultural and artistic significance.

In jewelry, they are a cornerstone for crafting wedding bands, engagement rings, and ceremonial adornments, often symbolizing love, commitment, and social status.

[11][12][13] Beyond jewelry, these metals are employed in fine art, including sculptures, decorative artifacts, and religious icons, showcasing their versatility and aesthetic appeal.

Wedding bands, in particular, remain a significant driver of demand for gold and platinum, blending economic and cultural value.

[14][15] As modern tastes evolve, the use of recycled metals and innovative designs has brought a sustainable dimension to their cultural and artistic applications, reflecting contemporary values while maintaining their historical significance.

The great expense of refining the metal made the small available quantity of pure aluminium more valuable than gold.

[18] The statue of Anteros atop the Shaftesbury Memorial Fountain (1885–1893) in London's Piccadilly Circus is also of cast aluminium.

The dawn of commercial electric generation in 1882 and the invention of the Hall–Héroult process in 1886 caused the price of aluminium to drop substantially over a short period of time.