The Best Precious Metal to Invest In: Which Is the Best Choice?

When it comes to investing in precious metals, everyone’s thought goes straight to gold. However, you may be surprised to find out that at this point, gold might not be the best precious metal to invest in this year.

The Best Precious Metal to Invest In

Right now, gold costs $2,298 per ounce, making it relatively expensive. Furthermore, considering that the sales in China and India have gone down, you could say that gold is slowly (but surely) beginning to lose power.

So, what else should you invest in if you don’t want to go for gold? Well, here are the best alternative options you could choose.

1. Silver

Considering that it sells at $15 per ounce, silver is likely one of the best investments of 2019. However, due to the fact that it’s less expensive, its demand is very high. Not to mention that silver is fairly malleable and can have a variety of functions.

Since silver is beginning to have a strong economic impact, investors are starting to believe that it will be quite profitable in the future. Plus, considering that it brings a 296% potential gain, you might want to add a few silver stacks to your collection.

Find out more about why EVERY investor should diversify with physical metals. Learn more about the true benefits metals offer.

2. Platinum

Also referred to by some people as “white gold” or the “rich man’s gold,” platinum has a fairly low price compared to the value that it brings. Costing $911 per ounce at this moment, it is just less expensive than gold – but it shows a lot of promise.

That being said, it is expected that the price of platinum will go up quite a lot in the near future. Considering that it’s one of the most traded metals, in the future, its value may surpass the price of gold once more. Based on platinum’s current price, it shows a potential gain of 221% - which will only grow over the next few years.

Plus, this metal is so rare that people are going through extreme ways to find it. It has actually been suggested that people mine asteroids. It may be a risk investment – but if there was ever a better time to invest in platinum, it’s right now.

3. Palladium

Many people are uncertain whether to invest in palladium or not – but 2019 shows quite a lot of progress for this rare metal. Used in many areas such as groundwater treatment and dentistry, as well as the automotive industry, the palladium ETF is soaring.

In January 2019, it had one of its longest runs in the entire history, hitting a new record. Furthermore, the cutoffs in China boosted the demand for this precious metal.

Palladium can be bought at $1,397 per ounce, which makes it more expensive than gold and platinum. However, with the drops of the price in gold, palladium is over its way to become one of the most valuable investments.

Learn more about the process of investing in precious metals such as gold and silver. Find out more with our easy how-to guide.

Closing Thoughts / Your Next Steps

As you can see, gold is not your only option. By investing in precious metals such as silver, platinum, palladium or even steel, you may be able to increase your investments even more.

Mon-Fri 7:00AM-5:00PM PST