Precious metal investments always begin to look attractive in moments of economic uncertainty and market instability. If you’ve been paying any attention at all, then you’ve likely heard some news that has you wondering if precious metal investments are right for you. The long and short of it is that these investments are a good idea for any prudent investor who values long term growth and stability over getting rich quick.
Why Metals are a Good Idea
Simply put, precious metal investments are a good idea because of their long term stability. Over time, precious metals such as gold and silver have weathered instabilities in the economy that have devastated the traditional stock market. This is why investors recommend keeping at least 10% of your portfolio in precious metals investment at all times. Of course, stability isn’t the only attraction. These investments tend to grow in value as well, at a rate comparable to or sometimes outperforming traditional conservative investments such as the S&P 500 index fund.
It’s About More than Coins
Some people have a backwards idea about precious metal investments, however. They may think of it as just hoarding up coins like gold and silver and sitting on them. But this couldn’t be further from the truth. The real market for precious metal investments is not only wider in the scope of commodities – offering coins in other metals such as platinum and palladium – but wider in the scope of instruments as well, with such diverse options as precious metals-backed IRAs and 401Ks.
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