There are some things to consider when thinking of selling gold and other precious metals. Precious metals are defined as those metallic chemical elements considered of high value. Examples of precious metals include gold, platinum, silver and palladium among others. They are also chemically less reactive and have a higher luster. They tend to be softer metals yet have higher melting points. The prices for precious metals will vary as it is dependent on a number of various factors. These factors include the demand both industrial and commercial, the possibility of manipulation and the discovery of new sources of the metal affecting its supply and perhaps even rarity.