What Precious Metals Are Worth Investing In?
When people hear about the word investing, one automatically thinks of the stock market where you can invest by buying shares in different companies or investing in property. What you might not realize is that there are other kinds of investments out there. One of the most lucrative investments you can make is with precious metals. The type of metal you invest in can determine the volume of profit you can considerably get. Here we share with you a few precious metals that can be worth investing in
Gold is one of the most popular precious metals to invest in as it can be quite profitable. Gold has had a long history of being sought after, because, unlike other currencies, history has proven that it has a value that does not diminish with time. Gold has often been a measure of wealth for countries and even if there are new reserves found, the value of gold already in stock does not decrease drastically. Gold is measured in karats, and you can determine the value of the gold you have by how pure it is. That being said, gold has a market of its own and prices vary twenty-four/ seven.
This precious metal is rarer than gold. Platinum is also more difficult to extract, which is why it comes with a higher value. Platinum has gained in popularity more recently compared to other metals such as gold or silver which have been the go-to for aeons. Its price fluctuates based on supply and demand since this type of metal is often used in industries. Because of the rarity of this metal, you need to be very careful when looking for a platinum stock supplier in terms of purity. This is why many people investing in platinum lean towards ETFs rather than bullion.
Just like gold, silver has been a reliable investment for quite some time. Although silver is not as rare as other metals out there, it is still a superb choice. Silver is more readily available for those who want to invest in it. The same with Platinum, the price of silver tends to fluctuate because of supply and worldwide demand, as Silver is used in various industries. Investing in silver bullion is the most common form of investing, as it is less conspicuous than gold, but is still quite valuable. Silver is a dependable metal that does not corrode easily. It is very malleable and is a great conductor of electricity and heat, making it high in demand in industries such as electronics.
Copper is less rare than the previously mentioned precious metals, however, it is extremely in demand because of its efficiency as a conductor and its malleability. It is the most used metal in electrical wiring. Copper is also used in jewelry and can be purchased in the form of bars or coins. Mainly, investors looking to invest in copper go for ETFs that enable them to invest directly in copper mining companies or copper funds. Compared with other metals, it is more lucrative to invest in mining copper than impractically purchase this metal in bullion.
This metal is not as commonly known as others on this list. This type of metal is often overlooked because of the prime focus on the gold and silver markets. However, this does not make palladium any less of an investment. Palladium is quite rare and has increased in value exponentially over the past decade, even more so than gold. This metal is mainly affected by and mostly used in the auto industry. It can be purchased directly in the form of bars or coins and is quite expensive, to the point where car manufacturers are experimenting with other precious metals as a replacement for this noble metal. Though Palladium is hard to work with compared to others on this list, this metal is still very much in demand.
If you are still a beginner when it comes to investing in precious metals, then getting as much information as possible about which metals to invest in is going to be extremely helpful. Now that you are aware of the different metals that you can invest in, you should consider the risk versus reward of each and invest in some precious metal of your own. The best thing about investing in precious metals is that fortunately, they will never fully go out of demand, at least not anytime soon, which means their values will never diminish to the point of a complete loss.
JR Dominguez is the technology, finance and music editor for MiLLENNiAL. When he's not writing, you can find him day-trading stocks, playing video games, or composing commercial scores.