Not used alone in modern Chinese; it survives in the literary pair 斧钺 (axe and battle-axe - the instruments of execution and the emblem of command). The right side 戉 is the original pictograph of the axe and the phonetic, also inside 越.
culture
A king handing a general the 钺 meant conferring authority to command troops and put men to death, so it stands in old texts for delegated military power.
The metal radical 钅 is 金 in left-side form. It marks 钺 as a metal object - a cast bronze or iron axe-head.
phonetic
戉yuè
ancient axe
On the right, 戉 is the original picture of a broad battle-axe; it gives both the yuè sound and the core meaning. The metal radical was added later. It also sits inside 越.
