Precious metals are rare metallic elements that have a high economic value. Examples of precious metals include gold, silver, platinum, and palladium. These metals are valuable because they are rare, have a high level of purity, and are resistant to corrosion.

Rare earth metals are essential components in the production of electronics such as smartphones, televisions, and computers. They are used in screens, speakers, and batteries, among other components.
Rare earth metals are used in the production of electric vehicles, hybrid cars, and airplanes. They are used in motors, batteries, and other components that require high-performance materials.
Precious metals such as gold, silver, and platinum are used in medical devices due to their biocompatibility and corrosion resistance. They are used in devices such as pacemakers, dental implants, and prosthetics.