Why Gold and Silver are Precious Metals ?

What make Precious Metals precious:

precious metals are rare metals found in very small amounts in the planet earth hence the high economic value
Gold, silver, and the platinum group metals are known as the precious metals. Some craftsmen also call them the noble metals.Relatively scarce, highly corrosion-resistant, valuable metals. Gold, silver and platinum are examples of precious metals.Materials such as gold, silver, and platinum that offer an alternative form of investing The industry defines gold, silver, platinum, and palladium as precious metals. Unlike gemstones, the term precious is still widely accepted when used to delineate High-value, low-volume, scarce metals such as gold, palladium, platinum and silver.This is a video I have created to explain the reasons behind why precious metals have intrinsic value. Peter Schiff, Ron Paul, Jim Rogers, Marc Faber, Gerald Celente, Gold, Silver, Platinum, Fiat Money, Inflation, Currency Devaluation, Federal Reserve, Banks, Bank of England, Dollar Collapse.