Best Precious Metal to Invest In: The Best Investment Option
When it comes to investing in precious metals, everyone’s thought goes straight to gold and silver. 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.
Right now, gold is on the rise, making it relatively expensive compared to some other metal prices. Furthermore, considering the recent global events, the demand for gold will remain strong. However, there are other precious metals you should consider to diversify your portfolio.
Alternative Precious Metals Investing Options
So, with there being multiple precious metals investment options, what else should you invest in if you don’t want to purchase gold? Well, here are the best alternative options for precious metals investors to add to your investment portfolio.
Silver as a Precious Metals Investment
Considering that it sells at $15 per ounce at the current market price, silver is likely one of the best investments of 2020 (You can read our analysis on whether will silver go up in price this year here). However, due to the fact that it’s less expensive at spot price, its demand is very high. Not to mention that silver is fairly malleable and can have a variety of functions with silver mining expanding. The price ratio is favorable and is friendly to newer investors.
Is Silver Really a Good Investment?
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 has potential gain, you might want to add a few silver stacks to your collection before it reaches a higher price. Silver bullion can be purchased in bullion coins, bars, and rounds, as well as numismatic coins as collector value.
World-Wide Economic Uncertainty
With the current economic collapse occurring around the world, investors are looking for the most worthwhile metal to invest in. The commodity market is seeing many fluctuations as economic growth is jeopardized. Investors typically choose precious metals like gold coins during an economic crisis but the silver market is not something to ignore.
Find out more about why EVERY investor should diversify with physical precious metals. Learn more about the true benefits metals offer.
Platinum as a Precious Metals Investment
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. Besides gold and silver, platinum costing $765 per ounce at this moment, it is just less expensive than gold – but it shows a lot of promise.
Potential in Platinum Prices
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, the platinum market price may surpass the price of gold once more. Based on the current platinum demand, it shows a potential gain - which will only grow over the next few years.
Plus, the metal is so rare that people are going through extreme ways to find it with extensive platinum mines. It has actually been suggested that people mine asteroids in the future for this metal. It may be a risk investment – but if there was ever a better time to invest in platinum, it’s right now.
Palladium as a Metals Investment
Many people are uncertain whether to invest in palladium or not – but 2020 shows quite a lot of progress for this rare metal. As an industrial metal, it is used in many areas such as groundwater treatment and dentistry, as well as the automotive industry, the palladium ETF is soaring. This option is just one metal to invest in.
Palladium's Metals Demand
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 metal.
Palladium can be bought at $2,050 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.
What Is the Best Metal to Invest in Right Now?
Considering silver's overall stable price, silver is a solid investment option to diversify your portfolio this year and thus, the best choice. With it's security as an investment you can keep your investments and retirement safe during these times.
- 1. Silver Precious Metals
- 2. Gold Precious Metals
- 3. Platinum Precious Metals
- 4. Palladium Precious Metals
- 5. Copper Precious Metals
Closing Thoughts / Your Next Steps With Metals
As you can see, gold is not your only option as a good metal to invest in. By investing in silver, platinum, palladium or even steel considering steel prices, you may be able to increase your investments even more.