A high density precious metal powder that resists sintering at 600.degree. C. and contains a very small percentage of titania or zirconia is produced by co-nucleation and precipitation of gold and titania from an ammoniacal solution at pH 3-4 with a bisulfite.A nickel powder including a very small percentage of a refractory oxide such as zirconia is prepared by co-nucleation and precipitation from an alkaline solution with hydrazine.Materials so prepared have oxidation resistance and sintering temperatures superior to the pure metal, and find utility in microelectronics as air-fired thick films. Nickel powders so prepared are also useful as hydrogenation catalysts and in other applications.