Gold and silver have been important to humankind almost since their discovery. They figure prominently in history and mythology of many different cultures. Remember stories about Jason and the Golden Fleece, and about King Midas and the curse of his golden touch. If you need to kill a werewolf, everyone knows that you need silver. Of course, these metals figure prominently in our financial system as well, and that is why they have the potential to be great investments. Even with the corrections in the price of metals in recent months, many still believe that the precious metals outlook is shining. Many investors, new and old, are considering buying into metals again.
In the world of metals, investors have a number of different choices. The two most popular metals are still gold and silver. However, they are not the only metals that are available. Investing in palladium and platinum is a possibility as well. Most investors today are looking at bullion investments because they want to have the actual bullion in their possession. Bullion bars and coins are available for purchase.
Gold is easily the most popular of the investment options available today, and it has been doing some remarkable things over the years. A little over 40 years ago, the cost of a troy ounce of gold was $37. Today, the price of gold is $1276 per ounce. Gold is useful for many different industries today, and the jewelry industry is the most prominent. About 66% of the gold used each year is in jewelry. Other industries and investors make up the rest. When buying gold, investors can choose from various sized bars including a 32.15-ounce kilobar. Investors can buy coins as well including American Eagles and Buffalos, Canadian Maple Leafs, Vienna Philharmonics, and South African Krugerrands.
Silver is the next in line when most people are thinking about metals investment. The precious metals outlook for silver is decent as well, and this widely traded metal seems to be quite promising still. It is currently trading at about $19 per ounce, which is lower than the $30 plus range it was trading at a year ago. This can be good news for those who are thinking about investing now though. They will find that an investment now could pay off in a few years as the price starts to climb again. As with gold, investors have a number of different choices when buying including physical silver coins and bars.
Platinum and palladium are two other quality metal investments. They also offer bars and coins for investment purposes. Having a diverse portfolio with a few different types of metals could be a good option for some investors.
How to Invest with the Precious Metals Outlook
Anyone who sees the precious metals outlook as positive, as many experts do, should look at investment options soon. However, it is important to make sure to work with a quality company that has a good reputation. Poor companies that offer inferior products are still out there and doing business and it pays to be careful. Choose a company that will be able to walk you through the investment choices you have and help you make a decision that’s certain to be right for your investment needs. Never let anyone force you into an investment that is not right for you.
With the precious metals outlook at a more affordable level right now, it could well be a perfect time to start investing. Make it a part of your investment portfolio and hold onto the goods for a few years to see how much they rise in value for you.