Investing in precious metal can only be done with the necessary knowledge. Most speculators only look at gold and silver. However, there are a few other metals worth looking into as well.
Aluminum is a Decent Investment
Our society would look very different today were it no for the introduction of aluminum. It is one of the most common precious metals in the earth. That has allowed for mankind to incorporate it into many different products, as aluminum is malleable and corrosion-proof. Especially this latter aspect has made the metal so appealing.
Today, one can find aluminum in vehicles, transmission lines, furniture, and even televisions. As an investment, it can make a lot of sense for diversifying portfolios. It will not necessarily make one rich, but exploring the aluminum options and futures can be worthwhile. Especially for newcomers to the precious metals market, this option can be a good one.
Palladium is Underappreciated
Most people tend to forget that palladium is a precious metal worth investing in. Although it is far less common than gold and silver in terms of investors advising it, it too is commonly used. It is also more approachable for investors with less money to burn. It is not as commonly found either, even though most dental crowns have traces of it.
In terms of trading palladium, there are traditional options including ETFs and mining stocks. The big question is if and when this precious metal will see a massive surge. Any investors who are risk-averse toward fiat currencies – especially the US Dollar – may want to look into palladium. It is in high demand among car manufacturers, and that demand may not slow down either.
Rhodium Remains Under the Radar
One of the precious metals hardly anyone seems to talk about is rhodium. The silver-white metallic element is resistant to corrosion, and notes significant reflective capabilities. As such, one can often encounter rhodium in jewelry, searchlights and that mirror in your bathroom. Several manufacturers often use rhodium in combination with palladium and platinum for exhaust emissions.
In terms of pricing potential, rhodium has gone through a strong period in the 1980s. It also noted steep declines in the following decades, but may show signs of rebounding again in the near future. It is certainly one of the more exciting precious metals to keep an eye on under the current circumstances. The more one knows, the better one’s decision-making process will be.