Precious metals can be used as part of a diversified portfolio to hedge against investment risk.
Precious metals like gold, silver, platinum, palladium may keep their value during crises.
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Gold is used in dentistry and electronics, but its main application is as base for jewelry making. The price of the precious metal is affected by supply and demand, but one of its main drivers is investors’ sentiment. Generally, whenever investors decide to sell, the price drops. If they decide to buy, the prices go higher. Investors usually invest in gold when there are systemic financial concerns, periods of inflation, and geopolitical crises.
Silver is both a store of value and an industrial metal and its price is determined by its two roles. The price of silver usually follows along the price of gold, but divergences can occur due to the supply and demand for the valuable metal which can rise and fall because of its use in electrical appliances, medical products, electrical connections, other industrial items, batteries, superconductor applications, microcircuit markets and more.
Platinum tends to be more highly priced than gold and silver during geopolitical stability because it is a rarer precious metal, and less amount is extracted from the ground every year. Major factors that influence the price of platinum include its industrial use, its use in jewelry making, in petroleum and chemical refining catalysts production and finally, its use in the computer industry.
The shiny, silvery metal is used in many kinds of manufacturing processes and has got applications in many industrial uses. These include electronics and industrial products such as catalytic converters, solar energy, and fuel cells. Palladium is also used in medicine, dentistry, jewelry, chemical applications, and groundwater treatment. The majority of palladium is extracted from mines in the United States, Russia, South Africa, and Canada.
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