Platinum and Palladium are great investments in precious metals.
If you are familiar with precious metals, then you probably know about gold and silver. However, there are many investors who don’t know much about platinum and palladium.
In fact, it would surprise many investors to know that palladium is actually more valuable than gold while platinum is many times more valuable than silver. So what makes platinum and palladium so valuable? The best way to get educated on these precious metals is by contacting an executive at Allegiance Gold. They will be able to help you better understand the value of diversifying your financial portfolio with any precious metal. Here are a few facts about platinum and palladium.
Both platinum and palladium are extremely rare precious metals. In fact, both platinum and palladium are more rare than gold. In the past year, there have been 1,782 tons of gold mined while there have only been 133 tons of platinum mined and only 233 tons of palladium mined. Because there is such a low “above ground” supply of palladium and platinum, the prices of both of these precious metals tend to be thousands of dollars per ounce.
2). A Hedge Against Inflation
Precious metals have been seen as a hedge of inflation for hundreds of years. As the United States continues to add billions of dollars of fiat to the money supply, the price of platinum and palladium continues to rise. Also, some investors believe that the current inflation in fiat supply could lead to hyperinflation. These hyperinflation fears have created a floor on the price of platinum and palladium.
There are actually a number of industrial uses for both platinum and palladium. In the case of platinum, the precious metal is used as a catalyst for the production of nitric acid. Platinum is also used to improve the efficiency of fuel cells. Finally, platinum is used in hard disk drives. When it comes to palladium, you can find this precious metal in catalytic converters as well as fuel cells. Because of the industrial use of these precious metals, the supply of platinum and palladium remains low.
Both platinum and palladium are attractive white metals. You will find that many engagement and wedding rings now use platinum. Both platinum and palladium are used in collector coins. Finally, there are many uses for platinum and palladium when it comes to jewelry such as necklaces and bracelets.
How to add platinum and palladium to your investment portfolio
Because of the high value of platinum and palladium, you may want to consider adding both of these precious metals to your portfolio. You can add platinum and palladium to your portfolio by purchasing platinum or palladium bullion or coins through Allegiance Gold. As the world experiences more and more inflation, it is important to know more about precious metals with incredible rarity and value. If current trends continue, the price of both of these precious metals may continue to go even higher. Contact an executive today at Allegiance Gold for more information on how precious metals can help your portfolio. Ask about receiving our FREE Gold IRA Guide as well!