Gallium is a scarce metal that has been sought after for decades by various industries. Unlike other metals, gallium is not naturally occurring but is synthesized from bauxite ore and other materials. Because of its rarity and unique properties, it can be considered a precious metal.
Is Gallium a Precious Metal?
No, Gallium is not precious metal. Nine precious metals are iridium, rhenium, ruthenium, rhodium, palladium, osmium, platinum, silver, and gold. Gallium has high commodity price levels, but it is not popular for trading such as precious metals.
Gallium has been used for various applications over the years due to its ability to conduct heat and electricity efficiently. It is also soluble in both water and alcohol, making it highly versatile in terms of its uses. Historically, gallium was used in electronics such as transistors, diodes, and amplifiers. Today it can be found in high-end computing processors, solar cells, LEDs, lasers, telephone systems, and even medical devices such as pacemakers.
The unique trait of gallium is its low melting point – it melts at just under 86 degrees Fahrenheit (30 degrees Celsius). This means gallium can be quickly melted down into a liquid form and then re-solidified into whatever shape or size desired without losing quality or functionality. Many companies have taken advantage of this property by creating products such as ornamental figurines or jewelry made from pure gallium metal.
Gallium’s rarity also makes it valuable on the open market; one ounce of 99% pure gallium sells for around USD 800 per pound. With the increasing demand for electronic components containing this metal, its price has only increased in recent years. Additionally, because most mined bauxite ore contains only trace amounts of gallium (less than 0.2%), extracting this metal from natural sources has proven difficult and costly.
Due to its versatility and rarity, gallium certainly deserves the title of “precious metal.” It may not have the same notoriety as gold or platinum. Still, many industries rely on this unique material to create products that wouldn’t otherwise exist today without it – making it genuinely invaluable in its own right!
Please read our article “What are Precious Metals.” If you want to know more about how to invest in precious metals, read our extended version article.
If you like bills and coins, you should learn more about Gold and Silver IRAs. You can protect your retirement fund if you invest in IRA precious metals. Investors with gold IRAs can hold physical metals such as bullion or coins. Get a free pdf about Gold IRA.
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If you do not want to own them in physical form precious metals, you can trade gold, silver, and metals as CFD with the minimum commission:
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