Is Precious Metals a Good Career Path?

Is Precious Metals a Good Career Path?

Choosing a career path is one of the most important steps in one’s life. Some people love to go for the audacious career path and some people opt for a career path that allows for a simple life. One can also choose to take a career path that is unconventional, very different from the mainstream ones. There is one such career path that you can take that is always in high demand but unconventional to a lot of people. Precious metals are one such industry that is not very popular when it comes to job building but is an amazing career path for you to start as a freelancer or a full-time worker in large Industries. This article highlights what precious metals are and how you can coin a career path for yourself in this industry.

What are Precious Metals?

Precious metals are naturally occurring metallic chemical elements of high economic value. They usually are ductile and have a high luster. The most popular precious metals are gold and silver and they are best known for their uses in art, jewelry, and coinage. Other precious metals are Rhodium, Palladium, Osmium, and Platinum. There is a high demand for precious metals, not just because of their practical use but also because others see them as a form of investment or a store of value.

Gold is the most popular precious metal and it constantly receives a lot of attention from the financial markets. In contrast to fiat currencies, gold is stable and others use it as a means of storing wealth. That is why gold is popularly used in the financial markets. In recent years gold has risen to an all-time high of $3000 which is a huge ROI for those who invested quite early in the market. How can you coin a career in the precious metal industry? How can you become a precious metal worker?

 

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How to Become a Precious Metal Worker?

The precious metal industry is a highly respected profession where specialists can work in various industries such as jewelry, antique restoration, furniture production, mining, and blacksmithing. The amazing thing about being a precious metal worker is that it has no restrictions on educational backgrounds.

You do not need a college degree to qualify for the precious metal industry. However, academic or practical design experience is valuable and serves as a stepping stone for better positions in the precious metal industry. Some enter the industry as apprentices, interns, and with years of experience, build their way to the top. 

The various job positions in the precious metal industry include precious metal worker, precious metal broker, goldsmith, quality control specialist, metals production specialist, precious metals advisor, analyst, jewelry and coin specialist, and many others.

Approximately 40,000 precious metal workers are currently employed in the United States. While the labor market for metal workers is expected to contract by -6.6 percent between 2016 and 2026, as technology advances, there will be more ways to invest in precious metals like gold, and as a result, prices will rise. This will result in a large number of vacancies to accommodate the new admissions. Nobody can deny that precious metals such as platinum, gold, diamonds, and so on are becoming increasingly expensive, while demand for these metals is also increasing. As a result, no matter what position you work in or where you start your business, as long as you are associated with this industry, your career will be rewarding.

On average professionals can earn around $71,000 or even more depending on the position they assume in the precious metal industry. Even though precious materials involve a lot of risks, as long as one is professional and knows where and how you can prevail in the long run.

So many enter the precious metal industry with the mindset of establishing their business someday and with a vast amount of experience one can set up their jewelry store in a glamorous location where tourists and well-to-do people can buy the pieces of jewelry they sell. 

Best Paying Jobs In Precious Metals

There are so many jobs in the precious metal industry. Just like every other industry, the better paying job than others in the precious metal career. 

The first is the Goldsmith. Being a goldsmith is one of the oldest professions and the best paying jobs in the precious metal industry. The best thing is that it doesn’t require a college or university degree. As a goldsmith, you are responsible for shaping, soldering pieces of gold, repairing gold jewelry, cleaning and resizing rings, and grinding gold for new products. On average, a goldsmith is paid $45,376 per year in the United States according to a report.

Is Precious Metals a Good Career Path?

Another good-paying job is as a precious metals derivatives trader. As precious metal derivatives traders, you use your knowledge and experience in making critical decisions regarding the trading of precious metals. These decisions determine whether there will be profits or losses at the end of every trading session. A precious metal trader, on average, earns around $55,000 to $78,000 annually. 

Quite similar to a precious metals derivatives trader are the precious metal specialists. They work hand in hand with consumers. They guide the consumer on the best metals to buy and also use market timing to help investors make a high ROI on their purchase. On average, a product metal specialist earns around $71,687 annually in the United States. Some are even paid between $500 to $1500 for consultation as a precious metal specialist.

Being a production polisher is another high-paying job in the precious metal industry. Production polisher is achieved by using CNC machines and grinding stainless steel and aluminum parts. Polishers must be problem solvers, as well as have aesthetic and design skills, to meet the tastes of their customers.

Being a manufacturing operator is another lucrative career in the precious metal industry. As a manufacturing operator, you are in charge of producing and assembling products (jewelry). Production workers’ responsibilities include operating machinery used in the manufacture of jewelry.

 

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There are a lot of opportunities in the precious metal industry. You can start as an apprentice and work your way while gathering a lot of experience. There’s nothing to worry about in career growth in this industry. 

You Can Excel in this Industry 

The precious metal industry is a lucrative one that you can take advantage of. Starting a career path in this industry would be the right one. Although it’s lucrative, it is not for everyone. Those who are fascinated with precious metals, would love to know more about them, work with them, would love to learn and master the art of jewelry-making and invest in them for the long term, will enjoy a career in the precious metals industry.

I believe that by now, you must have got a concrete idea about what the precious metals industry is like, how can you begin a career here, what types of positions are offered, how much on average can you earn in this industry, and so on. If you’re interested in this industry, now is the time to get started. 

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