The formation of iron oxide on iron is the reddish brown crusty substance that we refer to as rust. There are other metals that oxidize but none that make this kind of rust. Stainless steel is the most resistant to all oxidation and rusting of all metals.
Rust is oxidization of ferrous metals; it is a type of corrosion. As laram said, stainless steel is very resistant to oxidization because of a characteristic called passivation, in which an extremely thin layer of oxidization forms on the metal, which prevents further oxidization from occuring. Precious metals such as gold and platinum are the most resistant to corrosion, because any oxidization quickly degrades back into pure metal. It is also a reason why such metals are so valuable.
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