What are the best Precious Metals to buy?
Precious metals are rare, naturally occurring elements of high economic value. The most valuable precious metals include gold, silver, platinum, palladium, and copper. These elements have high intrinsic value because they're not abundant in nature. Additionally, precious metals push the limits of aesthetics and cater to several industrial and non-industrial use cases. All these qualities explain why these metals have intrigued humans since time immemorial. In the 21st century, these precious metals offer a safer alternative to traditional investment assets. Unlike other investments, precious metals are immune to prevailing economic conditions. You can buy precious metals to diversify your portfolio, store wealth, or hedge against inflation or economic turmoil. But first, you have to choose the best precious metals to buy.
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Key Takeaways
- Gold is stable, liquid, and the best precious metal to buy.
- Silver offers a safe and low-cost investment with significant gains, ideal for beginners.
- Platinum is one of the fastest-growing precious metal investments.
- Palladium prices increased by 19.6% in 2021 and can rise further in the coming months.
What are the 4 most precious metals?
1. Gold
Gold is the best precious metal to buy for many reasons. It has been used as a store of value for centuries. One thing that sets gold apart from other precious metals is its stable growth. The gold price has increase by 40.83% in the past five years and a whopping 515.46% since 2000. This precious metal performs better in trying times, ideal for investors seeking to hedge against inflation. It is also portable and liquid, with zero counterparty risk. The main drawback of investing in gold is its high prices. Gold is trading at around $1,792 per ounce, which can discourage some investors. But you can buy gold coins of smaller denominations, like ½ or ¼ oz. Another option is to invest in gold bars using accumulation programs offered by GoldLine.
2. Silver
Silver is one of the best precious metals to buy for short-term and long-term investment. This precious metal served as a global currency and facilitated international trade for over 400 years. In recent years, its popularity as a precious metal investment skyrocketed. Silver is used in several sectors, including solar energy, electronics, jewelry, and more. These use cases guarantee high demand and prices. However, the main advantage of buying silver is its price. Today, silver is trading at around $23 per troy ounce. Its increasing prices in 2021 delivered significant gains for investors. But silver prices are still lower than all other precious metals, making it ideal for beginners. You can invest a small amount of money in silver coins and bullion bars and build a portfolio with smaller periodic investments over time. The best strategy is to buy silver from a dealer like GoldLine that offers storage.
3. Platinum
This precious metal is used in jewelry and auto-catalyst manufacturing. Although platinum is not as popular as gold and silver, it is one of the fastest-growing precious metal investments. The average platinum price increased by $249 to over $1,000 per troy ounce from January to August 2021. If you bought 10 ounces of platinum in 2020, you'd have gained around $2500 by August 2021. Platinum prices are still rising, making it is one of the best precious metals to buy.
4. Palladium
Palladium is used in automotive manufacturing and jewelry. But it cannot match platinum in the jewelry sector. Because these metals cater to similar use cases, their prices rise and fall in sync. As of September 2021, the average palladium price had increased by 19.6% from the start of the year. If you invested in palladium in January 2021, your investment would have grown by nearly 20%. Its prices can increase further in the coming months. Now is the best time to buy palladium.
Precious metals are rare, naturally occurring elements of high economic value. The most valuable precious metals include gold, silver, platinum, palladium, and copper. These elements have high intrinsic value because they’re not abundant in nature.
