Thus, the chemical elements actinium, polonium, and radium are not considered precious metals because they are highly radioactive. Compared to most other elements, precious metals are chemically less reactive, have higher melting points, and are more ductile - properties that make them ideal for many commercial and industrial applications. Palladium closely resembles its co-member in the platinum group - platinum. It is soft and is silvery-white in color. Like rhodium, palladium is largely used as a catalytic converter. As of January 2010, the price of this metal is estimated to be approximately USD424 per troy ounce (USD13,632 per kilogram). As a non-destructive assay method, XRF can identify various elements in a substance (in fact, even in powder and liquid ones) within a few minutes. One of the most important aspects in any of the assay methods pertains to the accurate determination of the composition of a substance at various points in the process. Records have the following details about the Welcome Stranger: Gross weight: 3,523.5 troy ounces (241.61 pounds) Trimmed weight: 2,520 troy ounces (172.8 pounds) Net weight: 2,315.5 troy ounces (158.78 pounds) Measurement: 2 feet (0.61 meter) x 1.02 feet (0.31 meter) For their find, Deason and Oates were paid about 19,068 by the London Chartered Bank (located in the town of Dunolly in Victoria), where they took the nugget. As for the precious metals gold and silver, both are known to be already in use since ancient times (gold was in use probably as early as before 6000 BC, while silver probably as early as before 5000 BC). The name "gold" was derived from the same Anglo-Saxon word, which translates to "bright yellow". Palladium is traded on the London Stock Exchange as an exchange-traded fund (ETF), under the ticker symbol LSE: PHPD. Platinum as an investment commodity: As of January 2010, platinum is valued at around us$1,555 per troy ounce (a couple years earlier, its price is about 48% higher than this - considered its peak price).