Precious metals are primarily those pure metallic elements that are listed in the Periodic Table. The term "precious" comes from the fact that some of these metals are rare in nature and in some cases its high demand. The major precious metals are gold (Au), silver (Ag), platinum (Pt), rhodium (Rd) and palladium (Pd). They are widely used in jewelry and art, automotive industry, the chemical industry, in electricity, and in electronics.