Did you know that the US precious metals market was worth $182.1 billion in 2019? Precious metals have been a valuable commodity since modern civilization began. These finite, useful, and visually pleasing compounds are just as in demand today than ever.
If you’re interested in learning about the valuable properties of precious metal, it pays to do a little research first. That’s where our helpful guide comes into play.
Read on to learn about the different types of precious metals available today.
Gold:
When you think of precious metals, gold and gold alloys immediately spring to mind. Gold has been one of the primary trading commodities for thousands of years.
Gold is one of the most popular choices for investment diversification because it holds a steady value, independent of the stock market. In general, gold increases in value in times of economic uncertainty. According to www.raremetalblog.com, This makes gold the ideal complementary investment to a strong stock share.
Silver:
Silver is useful as both a currency and for its industrial application. The minding industry values it for its superior conductive properties.
Investing in silver is smart because it holds an equally free value, non-correlating to the stock market or other precious metals. This makes it a great stand-alone investment or part of a portfolio diversification plan.
Platinum:
Platinum is a tough and shiny metal famed for its stunning appearance and durable qualities. Encompassing almost every mass industry on the planet, platinum shows no sign of decreasing in value any time soon.
Buying platinum is not only investing in rare metal but also in the booming industry it supports. This metallic compound can be purchased in the form of ingots, coins, and bullion, courtesy of the US Mint.
Palladium:
While it may not be as well known as its counterparts, palladium shouldn’t go amiss on a rare metal investor’s radar.
Used throughout the automotive industry, palladium is a crucial component for catalytic converters and other high wear applications. Besides this, it is also a highly investible rare metal with shares available to buy from all good traders.
Other Precious Metals:
Now that you know about the 4 big metals for investors, it’s worth learning a bit about non-investible precious metal.
Compounds like ruthenium, rhodium, iridium, osmium are not used for investment purposes, but they have countless uses in the automotive, tech, and aerospace fields. Without these critical components, we would not know much of the industry we take for granted today.
Types of Precious Metals Explained:
So, that’s the 101 on the different types of precious metals that exist today.
From highly investible portfolio diversification assets to crucial industry components, precious metals have many uses today.
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