Other Precious Metals You Can Invest In
Gold and silver are commonly part of many people’s investment portfolios, but there are other precious metals you can consider investing in too.
In this insight, we will be looking at three other precious metals and why they could be suitable investment options for you.
1. Platinum
Due to its rarity, platinum has become a precious metal that people are beginning to pay attention to as an alternative to gold and silver. In fact, platinum is more rare than gold and silver.
Its deposits are found mostly in Africa, the Ural Mountains in Russia, and some parts of Colombia. South Africa and Russia are the biggest producers of platinum, albeit still in very small supply. This has made platinum one of the precious metals that one can invest in.
Besides being a tradable commodity, platinum is also a precious industrial commodity with very high demand. It is believed that 20% of all manufactured goods are made using platinum in one way or another, making it one of the most highly demanded metals.
Platinum’s characteristics are another reason that makes it valuable. It is very durable and resistant to corrosion, making it suitable for making jewellery and luxury watches. In addition, platinum is a good conductor of electricity, resulting in its high demand in the electronics industry.
Most importantly, platinum has a very high melting point. Because of this quality, it is often used to make heating items for industrial usage. In the market, platinum has remained as one of the best performing metals today.
2. Palladium
Besides platinum, there is the lesser known palladium metal. It is softer than platinum, where it is used in industries for its resistance to rust. Since palladium is highly resistant to corrosion, it is used as an alloy in industrial usage.
More so, because it is silver-white in appearance, palladium has also been used in the world of jewellery. Its malleability enables designers to come up with intricate jewellery designs. As palladium is lighter than platinum, it also allows designers to produce elaborate jewellery pieces without them being too heavy for comfort. As such, palladium remains as an ideal precious metal that one can invest in.
3. Copper
Copper is one of the most widely used metals in the world. It has the second highest electrical conductivity of all metals. In the electronics industry, copper remains widely used not only because of its ability to conduct electricity, but also for its malleability.
In the motor industry, copper is mostly used for wiring. In construction, it is used for gutters, roofing, and plumbing because it corrodes slowly and is anti-bacterial. Copper is also a better conductor of heat than many other metals. Because of this, it is also used to make cookware.
In many nations, copper is used in almost all the coins. With these traits, the market demand for copper has remained stable over the years.
Investing in precious metals is a way to diversify your portfolio and split the risks. Regardless of which precious metal you choose to invest in, it is also important for you to protect your investment. Find out more about Ultra Vault’s Gold and Silver Storage services in the following locations:
