How Many Jobs Are Available In Precious Metals?
The market for precious metals offers thousands of employment across the country. More than 24,350 Americans are employed directly as jewelers or works with precious metals and stones. The creation and selling of jewelry is the primary industry in which there are several other employment positions in precious metals.
Accordingly, the question “How Many Jobs Are Available In Precious Metals?” has a large number of employment opportunities in this industry across a variety of divisions, including sales, customer service, administration, and other sectors. However, a sizable majority of these occupations are in manufacturing and mining.
You can find the perfect job in this industry that suits your knowledge and skill set with a little bit of research.
Precious Metals Sector Positions:
The roles in the precious metals industry that are most in demand are as follows:
Analyst:
He is responsible for estimating the gemstone’s value and its varying ratio throughout difficult times.
Goldsmith:
He is a metalworker who specializes in using priceless metals to make religious or ceremonial things.
Precious Metals Broker/ Adviser:
A precious metals broker or advisor, as the name implies, earns money on the commodities market. This person is also excellent at forging connections with customers. While trading for the investors, he keeps an eye on the commodities restrictions.
Precious Metals Worker:
As part of their responsibilities, he supervises the design and performs testing. Those who work with precious metals fall into the same occupational category as goldsmiths.
Quality Control Specialist:
Monitoring the precious metals’ quality requirements is the responsibility of a quality control professional. He is principally accountable for resolving conflicts with analysts and metalworkers.
Coins Expert:
Professional coin purchasers provide the safest and legalist purchases of gold coins. In order to make out your gold coins for the best price possible, you should contact a coin specialist rather than a pawn shop.
List Of Precious Metals:
Here is a quick list of precious metals.
- Gold
- Silver
- Palladium
- Platinum
- Rhodium
- Iridium
- Osmium
Now, let’s discuss each precious metal in detail.
Gold:
With its atomic number 79 and the chemical symbol Au (derived from the Latin word aurum), gold is one of the higher atomic number elements that are found naturally. It is a brilliant, somewhat reddish yellow, dense, soft, malleable, ductile metal in its most pure state. Gold is a valuable metal that has been used for money, jewelry, and other arts for as long as records go. It is a relatively uncommon element.
A gold standard was frequently used as a monetary policy in the past. However, the international gold standard was abandoned in favor of a fiat currency system after 1971, and gold coins ceased to be produced as a form of circulating money in 1933. By the end of 2021, there will be 250 000 238 tons of gold above ground.
Compared to most other metals, gold forms compounds more easily. Over the years, several gold compounds have piqued the curiosity of scientists due to their distinctive colors or interesting physical characteristics.
Silver:
Silver is a chemical element with the atomic number 47 and the symbol Ag (derived from the Latin Argentum). The highest electrical, thermal, and reflectivity values are found in transition metals, which are soft, white, and glossy.
The metal may be found in the Earth’s crust in three different forms: as an alloy with gold and other metals, as pure, free elemental silver (“native silver”), and in minerals like argentite and chlorargyrite. Most silver is produced by refining copper, gold, lead, and zinc.
Historically, silver has been regarded as a valuable metal. While it is more plentiful than gold, native silver is significantly less common and is used in numerous numismatic (collectible) and bullion coins, often with gold. Troy ounces or millimeters are frequently used to express purity. Ag is an abbreviation for troy ounces of silver.
Palladium:
The chemical element palladium has the atomic number 46 and the letter Pd for its symbol. It is a rare, gleaming silvery-white metal that William Hyde Wollaston first found in 1803. He gave it the name Pallas after the Greek goddess Athena, who was given the name after killing Pallas, an asteroid.
The platinum group metals (PGMs) are a class of substances that includes the elements palladium, platinum, rhodium, ruthenium, iridium, and osmium. The least dense and having the lowest melting point in the group is palladium. It is utilized in jewelry, dental fillings, electrical parts, power-generating fuel cells, and catalytic converters for automobiles.
Platinum:
Pt stands for platinum, a chemical element with the atomic number 78. It is a silvery-white, thick, malleable, very inert, valuable metal. Its name is derived from “little silver,” or platina, in Spanish.
The various horizons of platinum have several industrial uses. Platinum is a valuable metal that has been used for currency, jewelry, and other forms of art for as long as records go. It is a relatively uncommon element. Additionally, it is a crucial component of jewelry, laboratory equipment, electrical contacts and electrodes, platinum resistance thermometers, catalytic converters, and other products.
Rhodium:
The chemical element rhodium has the atomic number 45 and the letter Rh as its symbol. It is a transition metal that is uncommon, hard, corrosion-resistant, silvery-white, inert chemically, and hard. It belongs to the platinum club. Rhodium is a metal that is found in platinum ores and is utilized in electrical connections, catalytic converters, laboratory equipment, and other things because of how well it resists acid corrosion.
William Hyde Wollaston made the discovery of rhodium in 1804 while conducting one of the earliest comprehensive analyses of platinum ores. By dissolving it in aqua regia, a solution of nitric acid and hydrochloric acid, and precipitating the platinum chloride with ammonium chloride, he purified the raw platinum ore that he had imported from South America.
Iridium:
Iridium is an atomic number 77 chemical element with the symbol Ir. Iridium, a platinum group transition metal that is exceedingly hard, brittle, and silvery-white, is regarded as the second-densest element (after osmium). Even at temperatures as high as 2000 °C, it is the metal with the greatest resistance to corrosion. Finely split iridium dust is far more reactive and can be combustible than solid iridium, which is only corrosive to some molten salts and halogens.
Platinum is hardened with the help of iridium. Additionally, it is utilized in high-temperature crucibles, compass bearings, heavy-duty electrical connections, and fountain pen nibs.
Iridium was determined to be an impurity in natural platinum by Smithson Tennant in London, England, in 1803. Gold, silver, palladium, rhodium, and ruthenium were among the other metals that Tennant initially took out of the platinum ore. He created iridium chloride by heating the leftover platinum residue in aqua regia, a solution of hydrochloric and nitric acids.
Osmium:
The chemical element osmium has the atomic number 76 and the letter Os as its symbol. It is a hard, brittle, bluish-white transition metal from the platinum group that is mostly found in platinum ores and alloys as a trace element. The densest element that exists naturally on Earth is osmium.
Smithson Tennant in London found osmium in 1803 together with iridium.
Osmium is used to make instrument pivots, electrical connections, needles, and exceptionally hard alloys for fountain pen tips. It is also employed in the chemical market as a catalyst.
Best Paying Jobs In Precious Metals:
Here are some of the most common jobs available in precious metals:
| Job Title | No. Of Jobs In U.S. | Job Growth Rate | Job Openings |
| Jewelry Associate | 124,000+ | -2% | 228,000+ |
| Appraiser | 36,000+ | 7% | 1,000+ |
| Jeweler | 7,000+ | -7% | 1,000+ |
| Jewelry Consultant | 6,000+ | -2% | 146,000+ |
| Caster Operator | 4,000+ | -8% | 52,000+ |
| Goldsmith | 2,000+ | -7% | 500+ |
| Refinery Operator | 2,000+ | 4% | 25,000+ |
| Gemologist | 1,000+ | -7% | 500+ |
| Jewelry Maker | 1,000+ | -7% | 11,000+ |
Precious Metal Market Demand + Job Types:
Even though the precious metals sector may be smaller than some others, such as the consumer non-durables or energy sectors, there are still some excellent career opportunities available. Both people with college degrees and skilled trade employees can find employment.
Our wage guide for precious metals has further information on these positions. A list of some of the more typical fields you can work in is provided below.
Industrial:
Jobs in skilled trades can be found in the industrial industry. These are the people who use their hands and tools to gather and convert metals while working in the fields or industries. As of 2019, it is predicted that the industrial demand for precious metals would be about 44%.
Industrial Jobs May Include:
Manufacturing:
Workers in manufacturing will be required to make it all happen after the metals are mined and ready to be converted. Manufacturing companies require a lot of labor to produce the goods, from making parts to maintaining the facilities.
Mining:
Getting the metal is a difficult task. To locate the valuable metals and retrieve them without causing any damage, it involves careful planning, excavating, and a team of specialists.
Jewelry:
The jewelry business, which accounts for 40% of the demand for precious metals, is the second-largest market. This group comprises watchmakers, jewelers, and repairers. These are mainly people who work in jewelry stores or in factories that make jewelry.
Investment:
The market that is anticipated to increase at the fastest rate is the investment market, where demand is estimated to be about 26%. People who work in the financial industry will assist investors understand what is a smart investment because investing in precious metals is a broad field. Trends will be analyzed, due diligence will be performed, and customers will be advised on the best investment to make.
These additional tasks are possible for people who work with precious metals. All of the aforementioned market regions may be suitable for these occupations. Whether you are in the industrial, jewelry, or investing industry, you need to hire marketing, sales, and finance professionals.
Marketing:
Many businesses may want assistance with promoting their goods or services that were produced using these metals. Depending on the items they are selling, they could engage in B-to-B or consumer-based marketing.
Sales:
To discover the customers for the metal being acquired, salespeople are required. They could need to approach other significant industrial firms to inform them about their present stock and persuade them that their precious metal is what they want.
Finance:
Finance plays a significant part in the precious metals business, whether you work as an accountant for a precious metals firm or assist in the assessments of the precious metals.
Top Precious Metal Companies Employment Numbers:
Here are some of the best businesses to look into if you’re interested in a career in the precious metals market. In order to better comprehend the potential levels, we are also giving information on the number of people that each of these businesses employs.
Coeur Mining:
Five of the mines owned by Coeue Mining, a publicly traded business, are their own. They have mines in Mexico, Nevada, Alaska, South Dakota, and Canada, but their headquarters are in Chicago, Illinois. Silver and gold are obtained from these mines, among other valuable metals.
Estimated Number Of Employees: 2,100
Argonaut Gold:
They have sites in Mexico and Canada, but company headquarters are in Reno, Nevada. Their output of gold, which in 2020 amounted to 203,483 gold ounces, is what makes them famous.
Estimated Number Of Employees: 1,400
Hycroft Mining:
Hycroft Mining produces silver and gold at the Hycroft mine in Nevada. They are expected to have produced 178,836 ounces of silver and 27,392 ounces of gold in 2020.
Estimated Number Of Employees: 240
Golden Minerals:
Golden Minerals, another publicly traded firm, specializes in the manufacture of gold and silver.
Estimated Number Of Employees: 248
Gatos Silver:
Gatos Silver is a publicly listed corporation in the United States and owns mines in numerous places around Mexico.
Estimated Number Of Employees: 51-200
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