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So-called "precious" metals are expensive for two reasons - 1, scarcity, and 2, utility. They're comparatively rare, and they're very useful. If they were rare, but nobody wanted or needed them, the real value would be far less - like a Kardashian. If they were very useful, but very plentiful, the value would be less as well, kinda like sand - which is silica which is used in glass, computer chips, etc etc.

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10y ago

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