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GECX Group aims to be an active participant of the precious metals market, trading gold, silver and platinum.
A precious metal is a rare metallic chemical element of high economic value. Historically, precious metals were important as currency, but are now regarded mainly as investment and industrial commodities.
The best-known precious metals are gold and silver. Many holders of gold store it in form of bullion coins or bars as a hedge against inflation or other economic disruptions.
Gold has been widely used throughout the world as a vehicle for monetary exchange, either by issuance and recognition of gold coins or other bare metal quantities, or through gold-convertible paper instruments by establishing gold standards in which the total value of issued money is represented in a store of gold reserves. However, the amount of gold in the world is finite and production has not grown in relation to the world's economies. Today, gold mining output is declining. With the sharp growth of economies in the 20th century, and increasing foreign exchange, the world's gold reserves and their trading market have become a small fraction of all markets and fixed exchange rates of currencies to gold were no longer sustained.
Silver has long been valued as a precious metal, and it is used to make ornaments, jewellery, high-value tableware, utensils, and currency coins. Today, silver metal is also used in electrical contacts and conductors, in mirrors and in catalysis of chemical reactions. Its compounds are used in photographic film and dilute silver nitrate solutions and other silver compounds are used as disinfectants and micro biocides.
Platinum is used in catalytic converters, laboratory equipment, electrical contacts and electrodes, platinum resistance thermometers, dentistry equipment, and jewellery. Due to the fact that it is only produced on a couple of hundred tonnes annually, it is regarded as a scarce material, which is highly valuable and is a major precious metal commodity.
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