There are many jobs available in the precious metals industry, but some of them are more in demand than others. For example, a precious metals dealer is needed to buy and sell precious metals on behalf of the company. A jeweler is needed to design and create jewelry pieces. A goldsmith is needed to create gold pieces from raw materials.
The value of precious metals as investment options is rising. However, compared to other businesses, the field of precious metals is expanding quite slowly.
This article will examine the employment opportunities in the precious metals sector as well as the qualifications needed for success.
Additionally, we’ll go over all the crucial factors to consider while selecting this career path and assist you in deciding if it’s the best fit for you.
How Many Jobs Are Available in Precious Metals?
Throughout addition to the 24,350 Americans who work directly as jewelers or precious stone and metal workers, there are thousands of positions available in the country related to precious metals. But there are numerous more jobs connected to the creation and marketing of jewelry.
The number of jobs available in the precious metals industry depends on where you work; some companies may need more than one person for each job listed above, while other companies may only need one person for all three jobs listed above.
some of the most common jobs available in precious metals:
| Job Title | Number of Jobs in the U.S. | Job Openings | |
|---|---|---|---|
| Jewelry Associate | 124,000+ | 228,000+ | |
| Appraiser | 36,000+ | 1,000+ | |
| Jeweler | 7,000+ | 1,000+ | |
| Jewelry Consultant | 6,000+ | 146,000+ | |
| Caster Operator | 4,000+ | 52,000+ | |
| Goldsmith | 2,000+ | 500+ | |
| Refinery Operator | 2,000+ | 25,000+ | |
| Gemologist | 1,000+ | 500+ | |
| Jewelry Maker | 1,000+ | 11,000+ |
What Are Precious Metals?
Precious metals are valuable because they are rare, durable and highly sought after. Precious metals are valuable because they are rare, durable and highly sought after. These metals have a high value and are often used in jewelry, art, and industrial goods like cars.
Precious metals are valuable because they are rare, durable and highly sought after. These metals have a high value and are often used in jewelry, art, and industrial goods like cars. Gold has been around for thousands of years and it is still considered the most precious metal.
Gold has been around for thousands of years and it is still considered the most precious metal. However, over time other metals have also become more valuable to society than gold because they can be produced more easily or with less cost than gold can be produced with today’s technology.
Precious metals are used in jewelry, coins, dental fillings and electronics. They were valued as a currency during the Middle Ages and became popular again during the Industrial Revolution.
There is a limited supply of precious metals that can be mined each year. This means that they tend to increase in value over time.
Precious Metals Industry in the U.S
This report will give information about the U.S precious metals industry, such as its size, structure, and trends. The United States has a large and diverse precious metals industry which is worth approximately $3 trillion in 2018. This has led to a number of different companies that provide mining services and products for consumers.
The U.S is the world’s largest producer of gold and silver with about 5% of global production in 2017.
Because of their rarity, composition, and other characteristics, precious metals are materials with considerable economic worth. In fact, jewelry and coins made of precious metals have been used for millennia.
14 Best Paying Jobs In Precious Metals 2022
The precious metals sector is growing in the United States. Mining, refinement, and selling of gold, silver, platinum, and palladium are all included in this sector.
In the US, precious metal mining is a significant industry. Mines come in a variety of forms, such as open-pit mines and underground mines. Mining companies employ a variety of techniques, such as rock-crushing and blasting, to remove metals from the earth.
The metals are refined into purer forms after being extracted. Heat is used during the lengthy and intricate process of refining to remove impurities from metals.
Another crucial aspect of the sector is precious metals marketing. At precious metal dealers, people trade bullion made of gold and silver.
And some investors and coin collectors purchase gold and silver coins. Silver and gold are also used to make jewelry, including wedding bands. Metals are sold to the general public by precious metals traders.
What Jobs Are Available in the Precious Metals Industry?
Precious metals are a type of metal that is typically used for jewelry and other decorative purposes. It is also used in coins and other types of currency.
The precious metals industry is a small industry with fewer jobs available than other industries. However, there are still many opportunities available in the industry if you have a passion for it.
The job opportunities in the precious metals industry include:
- Jewelry designers
- Jewelry manufacturers
- Jewelry retailers
- Goldsmiths or silversmiths
- Precious metals wholesalers
How to Become a Precious Metal Worker?
These days, precious metals are in high demand. A new article or video about working with precious metals appears every day. The employment opportunities in precious metals are actually pretty scarce. But there are lots of ways to start out in this industry.
For instance, you could work as a consultant for companies that require assistance with precious metals investing. As an alternative, you may train to be a mining engineer and work underground.
You can also operate on the stock exchange as a precious metals trader. You can learn more about this area by enrolling in one of the many online courses that are available.
Precious metal workers are the people who handle, cut and polish metal. They might also be responsible for welding, plating or polishing metal.
If you want to become a precious metal worker, you should first decide which type of work you want to do.
There are different types of metals that require different skillsets and knowledge. You can choose from among these types of workers:
- Jewelers
- Engravers
- Artists
- Welders
- Platers and Polishers
- Fabricators
Top 10 highest paying industries for Precious Metal Workers based on their average annual salary.
This is a list of the top 10 highest paying industries for Precious Metal Workers based on their average annual salary.
- Mining: $84,000
- Jewelry Manufacturing: $77,000
- Gold Refining: $76,000
- Jewelry Repair: $72,000
- Jewelry Sales: $68,000
- Jewelers’ Supplies and Related Products Manufacturing: $67,000
- Metal Working Machinery Manufacturing: $66,500
- Gold Mining and Processing Plant Operation: $66,400
- Gold Refining Plant Operation: $64,900
- Coin Minting Machine and Related Device Manufacturing :$64,600
The Future of the Precious Metals Industry
The demand for workers who are knowledgeable about and skilled at extracting those metals from the Earth has increased in tandem with the rise in gold and silver prices over the past few years. Although the future is promising for those who work with precious metals, there are some difficulties in this line of work.
The need to constantly stay current on mining techniques and price changes as well as the ever-present risk of working in a hazardous environment rank among the most significant of these.
Nevertheless, despite these difficulties, many people find great satisfaction in a career that involves mining for gold and silver.
What Should I Know Before Pursuing a Career in Precious Metals?
One of the earliest forms of money is precious metals, which are still a popular choice for investments today. There are a few things you should be aware of if you’re considering a career in precious metals. Here are six things to think about before working in the precious metals industry.
- 1. Precious metals are no longer only used for jewelry. These metals have numerous industrial uses, such as in batteries and electronics.
- 2. To work in this industry, you must have some education. For instance, many employers will demand a degree in engineering or mining.
- 3. Have a strong work ethic ready. Mining for precious metals can be a physically demanding job.
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- 4. Be open to traveling. Since precious metals mining is frequently done in isolated areas, you might have to travel for work.
- 5. Be ready for extended hours. Finding employment in the mining of precious metals can be challenging, and many firms have demanding work schedules.
- 6. Be ready for a meager pay check. Mining for precious metals is frequently a low-paying industry.
Worker in Precious Metals of the Future
Workers in the precious metals industry have long been in demand due to their special set of talents. Their future function is uncertain, nevertheless, given the emergence of new technologies and the dynamic nature of the economy.
Some analysts think that the growing demand for gold and silver jewelry would keep precious metals workers in high demand. Others claim that their abilities would become obsolete due to technological advancements.
The truth is that no one can say for sure what lies ahead for those who work with precious metals. Those that are knowledgeable in this field should, however, take measures to make sure they can adjust to changes in the economy. They can achieve this by improving their knowledge of new technology and their skill set.
Number of Positions & Pay for Precious Metals Workers
People who work with, trade, or invest in precious metals are known as precious metals workers. Depending on their job and amount of experience, precious metals workers may earn different salaries. Those who work in the industry typically make more money than the ordinary employee.
One needs market knowledge and the ability to trade or invest in these commodities in order to function in the precious metals industry.
This industry offers a wide variety of jobs, including those for analysts, traders, refiners, and bullion dealers. The majority of these positions demand a college degree.
According to the Bureau of Labor Statistics, there are more than 3,800 positions open in the precious metals sector as of September 2022. The median annual wage for all workers, according to the most current statistics, was $46,640.
Education and Training Required for Precious Metals Jobs
The only positions in the business that require specialized training and education are those involving precious metals. These professionals need to be familiar with the metals and the production method they are using.
Additionally, they must be able to spot any flaws or issues with the metal goods. Several organizations, including apprenticeship programs and vocational institutions, offer training for these positions.
Precious Metal Worker job market by states in the US
The job market for Precious Metal Workers is not as strong as it used to be. The number of jobs has decreased by more than 50% from its peak in 2005.
The states with the most jobs for Precious Metal Workers are:
- Montana: 2,631
- California: 2,219
- Florida: 1,843
How big is the precious metals market?
The precious metals market is worth tens of trillions of dollars and could grow even more as the world population increases. The market is made up of gold, silver, platinum and palladium.
Precious metals have been a staple in our economy for centuries. The market consists of gold, silver, platinum, palladium and rhodium. These metals are typically used in jewelry and electronics according to the World Gold Council.
Final Reflections
Working with the natural resources that civilization has long regarded as valuable, rare, and beautiful is a career in precious metals.
Be Warned That There Aren’t That Many Jobs Available For Jewelers Or Precious Stone And Metal Workers If You’re Interested In A Career In This Field. Additionally, over the coming ten years, these jobs are expected to decline.