Silver is both the most abundant and the most affordable precious metal. In 2020, Silver prices are projected to hover around 21.5 U.S. dollars per ounce. At a projected 1,568 U.S. dollars per ounce in 2020, the price of platinum is expected to be significantly higher, making it the most expensive metal in this group.
The major producing countries for precious metals include Russia, the United States, Canada, South Africa and China. With a production volume of around 5.52 million ounces, Colorado-based Newmont Goldcorp was the world’s leading producer of gold in 2018. In the same year, Mexico's Fresnillo topped the list of silver producers, while Anglo American was ranked as the leading platinum producing company worldwide in 2018.