What is the best metal to invest in right now? Analyze all popular options
What is the best metal to invest in right now?
Analyze all popular options
It’s no surprise that the cost of metals, which are rarely found in the depths of our planet, is significantly higher than, for example, iron. This happens because supply cannot meet demand, and the price cannot fall below the market rate. This trend will become even more noticeable with the further development of humanity, so the question of which precious metal is best to invest in often arises among people looking to earn money.
Regarding the history of cost, since the 70s, the price of precious metals has barely grown if we take inflation into account. However, in recent years, gold has once again shown unprecedented growth. But it’s not just about gold, since it’s not the only possible investment option, though it is the most stable one.
Gold price growth chart 2014-2023:
A similar story is happening with platinum, but there is one important nuance in its pricing. This metal is used in very high-demand sectors, ranging from the production of medical devices to the chemical industry, theoretically making it much more attractive for future investments.
If we turn to analysts, they won’t reveal any secrets to us, the forecasts for the next 5 years are obvious – gold will be the main metal in the world. However, in such a rapidly changing time of progress, there cannot be something established, so it is possible that with the emergence of new technology, we will see a new leader in the metals market, who will become in demand in a certain sphere, and thus bring money to those who believed in him.
To make a final decision, in this article, we will examine the best precious metals for investment and compare the pros and cons of this type of investment. Of course, we will suggest which metal you should choose, but the final decision should remain yours.
Gold investments: Time-tested stability
It is obvious that gold is not just a precious metal, but a part of our culture, there is something sacred in it, something that people want to possess. For millennia, this metal has had enormous value, it was used to make coins and jewelry, and decorated the homes of rulers. Since then, little has changed, except that gold has become even more in demand in various fields, and physical ownership is no longer necessary with the development of legislation, financial control, and technologies that allow for remote asset management.
The world does not stand still, so, to invest in gold, you can choose several ways:
- Physical ownership – you buy gold bars in appropriate places, for example in a bank or another specialized place. Perhaps, for many, such an option seems to be the safest and most reliable, but in the era of technology, there is no need for it. It is simply unreasonable to keep such an expensive item, for example at home, without proper protection in the form of a safe.
- Digital gold – in this case, you purchase the right to own gold that is stored in a specialized cell, i.e., it is directly backed by its physical counterpart. The main advantage in this case lies in practical management of your assets, you can sell and buy with a few clicks.
- ETFs – in simple terms, are investments in gold mining companies. These are not direct investments, but a kind of intermediation, as ultimately you will be making money. If you have sufficient information and can analyze data about deposits, mining costs and financial affairs of companies, then this could be your perfect option, just don’t think it’s that easy. Many analysts spend their whole lives engaged in this activity and can make mistakes in some issues.
The advantages of investing in gold lie in its stability, but at the same time, it does not bring quick profits. These are investments for the long term.
Investments in Silver: why do many people choose this metal?
Silver remains one of the most in-demand precious metals on the market. The average cost has significantly increased after the production of solar panels, which use this metal, increased, but not as much as investors would like. Nevertheless, many choose it in comparison with others for good reasons.
In the era of technological development, when taking into account the total cost is important, many fields began to use silver because of its cheapness and unique properties. This metal is used to make various jewelry, it is used in various technology-related industries, as well as to make various decorative details. This metal is universal and that is its uniqueness.
For many, it remains an open question: why is silver much cheaper than gold? The answer is obvious and simple, there is just about 6 times more of it, hence the difference. However, when you buy one of the metals, the essence does not change, because you are investing a certain amount.
That is why the main advantages of silver are its affordability and higher yield with a competent strategy. As with other popular metals, you can buy both so-called virtual silver and its physical version. By the way, many choose the first option due to the convenience of managing assets.
Investments in Platinum
Currently, platinum is gradually edging out metals like gold from the list of investors favorites, as this metal is increasingly used in industry, for example, in automobile manufacturing, in the production of various electronics, in oil extraction. However, this is just another good option to buy, because displacing gold, which has proven itself over the centuries, is practically impossible.
They forecast a return to pre-pandemic prices, which the coronavirus pandemic pushed many sectors far back. This growth rate can even be called non-semiotic, as the real picture already looks much better. According to our forecasts, we will see an incredible jump in price in the first quarter of 2024, as there are rumors about the signing of an agreement on cooperation between leading companies engaged in platinum mining. However, these are just rumors, as such deals require the approval of the antitrust committee.
As you can see, the listed industries are profitable and in demand in themselves, so many have no doubts about whether platinum is a better investment than gold.
As for ways of investing, most people choose virtual assets or invest money in shares of companies that are engaged in extraction. Such a trend did not arise just like that, the consumption of platinum is starting to grow again, so it’s better not to miss the opportunity and start investing now, while the price has not yet soared to the skies. Of course, some risks exist, but it’s impossible to make big capital without a share of luck, so gather all your courage and don’t doubt yourself.
Gold vs Silver vs Platinum: summing up the most popular metals
Each of the metals presented has its own advantages, so it cannot be definitively said that any of them are not suitable for investment, everything is quite individual, so the final choice should be yours.
- If you are chasing quick profits and prefer to invest in the long term without risks – your choice is gold. This metal has shown itself in the best light for decades. Even if there is a small decline, as it was after 2011, the cost eventually recovers. By the way, over the past year, gold has shown unprecedented growth and is most likely going to break its previous record in cost.
- If you want to make money quickly – your choice is silver. However tempting it may seem, it is still a rather risky investment, as this metal has high volatility. For this reason, it is better to use investment funds or specialized platforms.
- If you want to earn more, but with a somewhat higher risk, your choice is platinum. Many analysts argue that this is the metal of the future. It is used in many technological areas that are just beginning their development as mass technology. In theory, over time, the consumption of this metal will only grow, and accordingly, its cost will increase.
Investing in new types of precious metals. What may rise in price in the future
In addition to the main types of metals, there are others that are no less interesting for investment. They are more volatile, but with a competent approach, can make an investor a wealthy person.
Investments in Palladium
This metal finds wide application in car manufacturing, electronics, and environmental cleanup from external impacts. To some extent, it is quite unique and may become very demanded in the future, when humanity finally thinks about restoring the pristine state of our planet. By the way, not so long ago it outpaced gold in price, which tells us about the high demand for this metal in the market. Like all others, it can easily be purchased on any popular exchange.
Investing in Copper
This may seem unusual, but copper has been the main metal in the industry for decades. Despite its price, it does not yield in stability to gold. Therefore, this may be your option. In addition, copper can be easily purchased on numerous platforms with just a few clicks.
Where and how can one invest in metals?
Investing in metals can be done most easily in two ways. The first is through a bank that offers such a service. You open a special account on which the volume of purchased precious metal (gold, silver or platinum) is recorded in grams. It is called an unallocated account because the investor actually acquires the precious metal only on paper, not in physical form – without being linked to a specific gold bar.
Interest on the balance of unallocated metal accounts is usually not accrued. Thus, the return on these accounts depends entirely on the market value of gold or silver. Upon closing the account, you may end up with either a net profit or a loss – depending on the prices of precious metals.
The second method is more practical and involves investing through specialized platforms. With their help, you can invest your money either in the metal itself or in the companies that mine it
If you’re confused by the variety of places to buy metals, one of the most popular and advanced platforms currently is goldenprime.pro. Using it, you definitely won’t have to wonder about which specific metal to invest in, as it has integrated automatic investments that can independently select an investment portfolio for you. This is a kind of revolution in this field, as the developers have managed to collect all the necessary tools for investments and trading in one place. The universal platform is no different from using internet banking, it’s available on any device (smartphone, PC, tablet).
Everything is very simple and clear. The first thing you need to do is register on the platform, open and activate an account. From this moment, you are already a user and can try all the advantages, but to start earning, deposit funds into your account, after which you are offered a choice of metals for investing.
Smart algorithms constantly monitor the market, prices, the state of mines, and other important points. The advantage of goldenprime.pro over the usual purchase of one of the metals is that it allows you to earn on the price difference, so your investments will pay off much faster with minimal risks.
Why are precious metals the best option for investment?
It’s no secret that during a crisis, investors often buy up popular precious metals to protect their assets from inflation. Their choice often falls on gold and silver, as they are stable assets, evidenced by the fact that in most countries of the world there are budget reserves of the financial system, in which these metals are predominantly stored, in addition to dollars.
It’s important to understand that investing in metals is not just an excellent way to hedge against various global market issues such as inflation, but also a real way to earn passive income. However, the aforementioned metals, due to their stability, only allow earnings based on the current exchange rate, unless we’re talking about trading shares of companies mining precious metals. In this case, you earn on the financial condition and position of individual companies on the stock exchanges, not on the cost of the metal.
In conclusion, it can be said that if you have long wanted to start investing, but do not know what to invest money in, precious metals are the best option, regardless of the amount. The chances of losing your savings are minimal, and the cost, on the contrary, grows in crisis situations, which cannot be said about any other asset in the world. Moreover, investing is becoming more practical and convenient, so we have no doubt that you will succeed.