Lead has two possible pronunciations. The irregular verb, meaning “be in charge” or “be at the front,” is pronounced [leed]. The same pronunciation applies to the related noun lead, which is often used to refer to potential contacts for sales or investigations or, in British English, as the most common word for “leash.”
Lead is also a noun describing the chemical with the symbol Pb, the metal known for being heavy and pliable. In this case it is pronounced [led]. You will need to use the context to know which word is meant when you see it written.
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