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In electrolytic refining, metals like platinum and gold are deposited as anode mud.

Why aren't they deposited on the cathode since they have higher reduction potential?

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For these metals to deposit, they would have to be present in solution such that they can come into contact with the cathode and be reduced. However, this would first require them to be oxidized, so that they dissolve in solution. Unless you are actually electrolytically refining for gold, the voltage will not be enough to oxidize it.

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