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There are really three main precious metals - gold, silver and platinum. To this you could add the other platinum group metals, like palladium and rhodium.  Base metals are much cheaper and far less scarce. Through the centuries, precious metals have been used for currencies and as a store of value. South Africa has the world's greatest known underground stores of gold and platinum, but is now the world's sixth largest gold producer. This is because most of our gold is at very deep levels which makes it very expensive to mine.

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