Some precious metals are commonly used in electronics and industries but are scarce due to scarcity, but now with simple technology the same properties can be produced in ordinary metals.
We know that copper, brass and steel are common metals but gold, platinum and other metals are precious and there is no substitute for them in electronics and other industries due to some of their properties.
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But now with the help of a new method of catalytic condenser, it is possible to take advantage of these by creating properties like precious metals in ordinary metals. That is, aluminum may be able to behave like a metal like tungsten.
Platinum, palladium, rhodium and other precious metals play an important role in industrial reactions, say scientists at the University of Minnesota. But because they are so scarce, they cost a fortune. That is why the cost of industrial production goes up.