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Gold Ask $1,872.35 trending_up $0.00
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Palladium Ask $1,675.28 trending_up $0.00
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What is a Precious Metal?

 

Precious metals are a specific type of metal that are rare and have a high intrinsic value. Throughout history, precious metals have been used as a store of value and have been collected as a sign of wealth. The four main precious metals are gold, silver, platinum, and palladium. Before today’s financial system precious metals were also used in trade as a form of money. Even as recently as 1971, the US dollar was tied to gold. FDR took the US off the Gold Standard in 1933 to fight rising inflation, but the US dollar was still linked to gold until Richard Nixon ended the fixed conversion of the dollar to gold. The price of gold was fixed at $35 an ounce. 

Today, precious metals have become a very popular investment tool. Prospective buyers can invest through precious metal ETFs, derivative markets, or physical bullion and coins. It is a way to diversify your portfolio without having to take on too much risk. The main precious metals hold a high value because of their many uses.  They are a hedge against inflation or financial uncertainty, they have many important industrial/electronic uses, they are scarce, and they can store value over time. There are other precious metals, however, they are not as liquid or do not have as many uses as the primary four. These metals include rhodium, iridium, rhenium, ruthenium, and osmium.

GoldClub Direct’s recommended method to invest in precious metals is by buying physical bullion or coins. The precious metals should be stored in a safe at your house, a hiding spot, a safety deposit box, or a third-party depository. Each option has its own risks and costs. To find the best quality precious metals, look at GoldClub Direct’s wide selection of products.

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