The Most Precious Metals: Top 3 Metals to Invest In
The global precious metal market is projected to grow at an annual rate of 6% for the foreseeable future. If you aren’t investing in precious metals yet, now is the perfect time to make that move. The impressive figures portend an industry becoming more valuable with each passing year.
Focus on the most precious metals to get the most out of your investment. They have better returns, and they tend to enjoy stability when it comes to valuation.
So which precious metals should you include in your investment portfolio? Here are the top three recommendations that won’t disappoint you.
1. Platinum
Platinum is a rare but unique metal popular in the car manufacturing industry. Manufacturers use it to make a car’s catalytic converter since the metal is an oxidizer. Platinum adds oxygen molecules to the carbon monoxide produced by a car to convert it into carbon dioxide, which is safer for the car occupants.
Jewelers and computer manufacturers also use this metal in their industries. Platinum is pricey because many industries rely on it to manufacture products. Further, miners don’t mine a lot of platinum which only reduces its supply, thus pushing its value up.
If you are wondering about where to buy platinum, don’t stress. You can find it in the global commodities market, where it’s traded around the clock. You could also buy stocks of companies that mine the metal for indirect ownership.
2. Sliver
It’s hard not to get silver as a suggestion when you ask anyone what are the precious metals that they know of. A majority of the people view silver as having two distinct roles – a store of value and as a metal for industrial processes.
The latter role was prevalent before the era of digital cameras in the photography industry. However, manufacturers still rely on silver to make electrical appliances and other items that need silver inputs to function.
The industrial applications of silver coupled with the rising demand for the metal have preserved its status as one of the go-to precious metals to invest in.
An ounce of silver costs less than an ounce of gold or palladium. Therefore, building your portfolio with this metal shouldn’t be that hard.
3. Gold: Sits at the Apex of the Most Precious Metals List
Gold has been and continues to be the ultimate symbol of wealth from time immemorial. And there’s a good reason for this. Gold is highly malleable, durable, and an excellent conductor of heat and electricity.
Besides, when currencies are unstable, people never hesitate to convert their money into gold. Investors view it as a safer store of value that can withstand the test of time. You’ll need to dig deep into your pockets to invest in gold, but it’s a worthy and secure investment.
Trade in Precious Metals
Most precious metals have stable prices, unlike the stocks of some companies. It would be best if you prioritized investing in these metals to diversify your portfolio’s risk. However, not all precious metals are equal.
Some are more valuable than others, and they guarantee better returns. Endeavor to explore the above options the next time you trade. Browse through the website for more informative articles.
