Looking Beyond Gold to Other Precious Metals for Investment
While gold is the most popular safe haven investment option in metals, there are other long term options as TradeZero well. Ocean Place Cable Beach, Unit #1 Nassau, Bahamas
Investing and stock trading require a clear picture of the market and precious insight that can help you decipher the reality in the midst of the buzz. Investing in gold is an example of how things can’t always be what they seem.
The Deal with Gold Gold is usually the investment choice when you have economic uncertainty and volatility around. It’s considered a safe haven, something in which you can invest till you are ready for riskier deals such as real estate and common stocks. While that strategy seems safe, analyst Tim Begany cautions that it can end up being risky because of the possibility of gold becoming too popular, causing a bubble that would eventually burst. A bubble is a situation when the intense popularity of a commodity leads to its prices soaring to such an unsustainable level that they plummet. That causes investors to lose a great deal of money.
Look Around at Other Precious Metals So while gold is a great safety option, make sure that not all your money is put into it. If you look around, Begany says you can find other precious metals to invest in. Some of these, Begany believes, are considered better investment optionsdue to their greater versatility. And, unlike gold, there isn’t such strong investor sentiment attached to these metals. Begany gives his suggestions on alternative metals. ➢ Silver is used for manufacturing jewelry, coins, dental fillings, architectural glass, hearing aids, musical instruments and silverware. Silver’s antifungal and www.tradezero.co
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antibacterial qualities make it the ideal choice for medical devices such as catheters. To prevent foot odor caused by bacteria, silver added to socks helps. Silver also helps produce formaldehyde. The myriad uses of silver make it a good investment since there are potential profit generating opportunities here. ➢ Begany believes copper is among the most versatile of these metals. It has universal use in vital products such as electrical wires, circuitry in microchips, car batteries, solar power cells and even musical instruments. Copper also helps produce alloys such as brass, bronze and pewter. ➢ Zinc is another resourceful metal. It is found in various alloys and serves as a wood preservative, agricultural fungicide and pain pigment. It plays an important role in manufacturing rubber, galvanizing and die-casting. Zinc, along with copper, is present in brass as well as bronze. Zinc also has health benefits. It is believed to contain antioxidant qualities that can slow down ageing and speed up the healing process. ➢ Palladium has multifaceted applications as well, spanning chemical, automobile, electronic and dental fields. Begany opines that electronic and technological innovations such as the iPhone all owe it to palladium for their existence. Palladium is also an ingredient in white gold, where it is mixed with a gold alloy. White gold is used for manufacturing watches and jewelry. ➢ Platinum has primarily industrial uses, functioning as a catalyst in the processing of nitric acid, synthetic fibers, fertilizers, petroleum and other chemicals. It is also used in high-voltage wires, fiber optics, catalytic converters, spark
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plugs and magnetic coatings used in hard disk drives with high density. You also have platinum jewelry. The point Begany makes is that each of these precious metals has comprehensive applications. They are vital for industries and the growth of society all over the world. They can never lose their resourcefulness. Their prices can fluctuate on a weekly or monthly basis, but they are great investment options to hang on to for the long term. These are metals you can think of along with gold.
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