Precious metals play an important role in the chemical industry as catalysts: With the help of silver, platinum, palladium or other elements, chemical reactions can take place that would otherwise not progress or would only progress at a much lower reaction rate. These metals are often used in the form of tiny nanoparticles. Precious metals play an important role in the chemical industry as catalysts: With the help of silver, platinum, palladium or other elements, chemical reactions can take place that would otherwise not progress or would only progress at a much lower reaction rate. These metals are often used in the form of tiny nanoparticles. Nanomaterials Phys.org – latest science and technology news stories