How Many Jobs are Available in Precious Metals?

There are over 10,000 jobs available in precious metals, the precious metal industry is broad and precious metals like gold, diamond, and silver are currently in demand. The industry has generated billions of dollars in revenue for the economy. In 2020, the industry was worth $185.1 billion.

The precious metals industry is filled with many job opportunities from the mining and extraction of these precious metals to the production stages. 

The demand for precious metals continues to grow as the world’s economic system becomes ever more complex. The industry is expanding rapidly as governments seek new sources of revenue and investors seek safe places to store wealth. Jobs in the precious metals industry provide good wages and benefits.

The precious metal industry is not only valuable to the government, but the industry is also appreciated by consumers, they provide consumers with different varieties of jewelry, coins, and other valuable decorative items.

We’ve compiled a list of the best-paying jobs in the precious metal industry and their potential earnings.

How Many Precious Metals Are Available

There are eight metals that are considered precious. They are gold, silver, platinum, palladium, rhodium, ruthenium, iridium, and osmium. Of the precious metals, not gold or silver, platinum is the most traded.

Also Read: Is Steel/Iron Ore A Good Career Path

Jobs In The Precious Metals Industry

1. Jewelry Maker

A jewelry maker is a craftsman who makes jewelry out of metal, plastic, glass, wood, or any other material. Jewelry makers often use machines to cut materials into specific shapes and refine them into precious jewelry.

Related: Is Metal Fabrication A Good Career Path?

Earning potential 

The average annual salary for a jewelry Maker is around $65,072 which is estimated to be about $31/ hour and $5,422/month.

2. Jewelry Appraisers 

Jewelry appraisers are specialist who evaluates the value of jewelry items. They determine the worth of a piece based on its condition, design, and materials.

Their job requires them to know about gemstones, metals, and diamonds. They may use tools like magnifying glasses, and machines to examine the pieces.

Earning Potential 

The average annual salary for a jewelry appraiser is around  $59,991 which is estimated to be about $29/ hour and $4,999/month.

3. Jewelry Designer

A jewelry designer is a specialist who designs rings, necklaces, bracelets, earrings, etc. A jewelry designer may work at a jewelry store or design their own pieces.

Earning Potential 

The average annual salary for a jewelry designer is around $42,601 which is about $20/ hour and $3,550/month.

4. Refinery Operator

Refinery operators are responsible for operating the equipment at oil refineries. They operate tanks, pumps, valves, and other machinery that moves crude oil through the refinery.

They also monitor and maintain the safety of employees and the environment.

Earning potential 

The average annual salary for a refinery operator is around $98,500  which is about $36.47/ hour and $8,208/month.

5. Gemologist

A gemologist is a person who specializes in gems and precious stones. They examine the color, weight, hardness, and fluorescence of a stone and determine if the stone is natural or synthetic. They use various tools to identify a gemstone’s origin and characteristics.

Earning Potential 

The average annual salary for a gemologist is around $54,925 which is about $26.41/ hour and $4,577/month.

6. Refinery Technician 

A refinery technician is a skilled worker who works in the refining industry. 

They are employed to perform maintenance on the equipment in the company, clean the pipes, or even repair them if they break down.

Earning potential 

The average annual salary for a Refinery technician is around $54,316 which is $26/ hour and $4,526/month.

7. Goldsmith

A Goldsmith is a craftsman who makes beautiful things out of metals. They create objects– jewelry, coins, tools, and others out of different types of metals.

Earning potential 

The average annual salary for a goldsmith is around $48,886 which is $24/hour and $4,073/month.

8. Caster Operator

Caster operators monitor the flow rate of material through the system, they ensure that the product meets quality standards.

They are also in charge of the production process of the precious metals in the industry.

Earning potential 

The average annual salary for a caster operator is around $35,955 which is about $17.29/ hour and $2,996/month.

9. Quality Control Specialist 

Quality Control Specialists are responsible for ensuring the product meets the specifications set forth by the company’s quality assurance department. They verify the metals, processes, and equipment used to produce the finished products.

They also ensure that the production line runs smoothly by performing daily inspections and testing samples throughout the day.

Earning Potential 

The average annual salary for Quality Control Specialist is around $48,017 which is 23.09/ hour and $4,001/month.

10. Precious Metal Consultant 

Precious metals consultants help clients understand their options and make decisions about what they should do with their metal products. 

They help clients determine whether they should sell, or purchase products from the industry.

Earning Potential 

The average annual salary for a precious metal consultant is around $41,900 which is about $20/ hour and $3,491/month.

11. Precious Metal Analyst

Precious metal analysts are responsible for analyzing the physical and financial aspects of the metal products– gold and silver. 

They are also responsible for providing their clients with information about current market trends.

Earning Potential 

The average annual salary for a precious metal analyst is around $70,892 which is 5,907/per month.

Conclusion

The precious metal industry is filled with many high-paying jobs, there are opportunities for everyone interested in working in this industry. Positions in this industry are lucrative, and flexible and would provide you with a stable source of income.

The industry is also beneficial to the government. The government collects taxes from precious metals companies that contribute to the overall health of the economy. These taxes help to fund important programs and services that benefit all citizens.

We hope this article has answered your question on How Many Jobs are Available in Precious Metals, you can contact us if you need guidelines on how to get a job in the industry