Aqua Regia is a highly corrosive mixture of concentrated hydrochloric acid (HCl) and nitric acid (HNO3) in a 3:1 ratio by volume. It is one of the few substances that can dissolve gold and platinum, making it invaluable in gold refining and analytical chemistry. The nitric acid acts as an oxidizer while hydrochloric acid provides chloride ions to form soluble chloroaurate complexes.