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A Quick Guide to Precious Metals Investing for Beginners

May 3, 2023

By 2028, the precious metals industry is projected to grow to over $400 billion.

If you’re thinking about investing in precious metals, now is a great time to do it. We’ve had a few down years of precious metals investing, but now that the pandemic is in the rearview mirror, we’re seeing the bounceback described above.

Those who are new to precious metals investing will undoubtedly have questions. In this post, we’re going to give you essential investing tips to buy gold, silver, and other precious metals. Diversifying your portfolio with precious metals is a no-brainer, so keep reading and learn how to do it the right way.

Types of Precious Metals

There are a number of precious metals that you can invest in, but the most popular are silver, gold, platinum, and palladium. Gold and silver have been treasured by cultures around the world for millennia, but they also have practical applications in modern society that enhance their value.

Gold, for instance, is used in electronics and dentistry, as well as being an essential material in the jewelry industry. Silver is used in electrical appliances, medical tools, batteries, and circuits.

Platinum is used in the automotive and computer industry, while palladium can be used to make capacitors and electronics. Far less platinum and palladium are mined from the ground, which makes them especially valuable.

Why Buy Precious Metals?

The main benefit of precious metals as an investment opportunity is that they remain valuable even in difficult economic times. The same can’t be said for paper money or most other assets that people tend to invest in.

During economic and political instability and times of crisis, demand for precious metals tends to increase. They’re a sturdy asset that you can physically keep in your possession.

Precious Metals Investing 101

Start by laying out your investing goals. Anytime you’re adding new investments to your portfolio, you need to have a clear plan in place. You can buy physical metals, precious metal stocks, or ETFs for the metals of your choosing.

The most common way to buy physical gold and silver is with bullion coins or bars. There are countless different types of coins and bars, but both are great options for first-time investors. You can find out more about each type of gold and silver investment by checking out the guides on our website.

Safe as they are, investing in precious metals like gold and silver can be overwhelming with all of the information out there. Your best bet for doing it the right way is to speak to a helpful advisor. They’ll be able to look at your existing portfolio and spending limits to give you the best investing tips.

Get Your Gold and Silver ASAP

There’s never a bad time for precious metals investing. We hope we’ve cleared up some of your most pressing investing questions. At CMI Gold and Silver, our guide is to direct investors to the precious metals that make the most sense for their investment goals.

We have many more articles like this one on our blog to help you get a better feel for the market. If you feel you need more assistance with your investments, don’t hesitate to contact us ASAP and we’ll help steer you in the right direction.

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