Gold is the best-known and most investable precious metal. It is characterized by its durability (it does not corrode), its malleability and its ability to conduct heat and electricity. While it has some industrial applications in dentistry and electronics, it is primarily used to make jewelry or as currency. The truth is, no one can tell you which precious metal you should buy, not even us.
As with any other asset class, a portfolio of precious metals is best protected when it is diversified. For beginners, silver or gold may be the best place to start. As soon as you have at least some of them in your portfolio, many investors start to integrate lesser-known metals such as platinum, palladium, or copper. By diversifying with precious metals, you can make your investment portfolio less risky.
Although gold has proven to be the best precious metals investment, your portfolio can also benefit from other precious metals. The key to success with them is understanding your goals before you get started. Investing in precious metals is an effective way to amass wealth. However, make sure you do your due diligence. Coins and precious metals offer low potential ROI and low potential risk.
Silver is the most electrically and thermally conductive of all metals — even more so than copper. But unlike gold, it tarnishes easily. While gold is a great investment, the cost of buying significant amounts of gold can be a bit prohibitive for some newer investors.