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 Gold $1,662.30   $-0.30  Silver $19.08   $0.30  Platinum $870.40   $-2.80  Palladium $2,194.00   $-42.10

Available in an assortment of options suitable for practically any budget, precious metals are so named because they’re rare and associated with fairly reliable and consistent values because of the unique qualities they possess. Gold, silver, platinum, and other commonly traded precious metals are also important because they can be smart investments during times of economic uncertainty. If they’re considering investing in precious metals such as platinum bars, silver bullion, or gold coins, Scottsdale residents might be interested in learning exactly why precious metals are important.

Many Appealing Visual Qualities

Going by appearance alone, precious metals have some appealing qualities that make them important for collectors and investors. For instance, gold and silver have a natural shine coupled with appealing textural qualities that, when combined with other metals, make them ideal for jewelry making. There’s an equally pleasing visual appeal if you prefer precious metals of this nature in the form of bars, coins, or ingots. Coins in particular tend to appeal to collectors because of the design features often included on them.

Important Industrial Uses

Many of the precious metals commonly mined and used around the world have an assortment of important industrial uses. Due to its high melting point, rhenium is often used for filaments and electronics casings. Silver is widely used in phones to minimize issues with the spread of bacteria, and it even reduces shoe odor in some applications. Palladium, to give you one more example, is widely used in the automotive industry to reduce emissions.

Added Peace of Mind when Inflation Is High

Commonly traded precious metals like gold and silver have a tendency to spike in value when economic conditions are a bit unsettling. As inflation woes linger on many people’s minds these days, precious metals like gold and silver are even more appealing than ever for investors. What’s more, the barrier to entry with precious metals for investment purposes is fairly low. You don’t have to be an experienced investor to find some great options with precious metals that are good for your portfolio and your peace of mind.

A Tangible Asset You Own Outright

Unlike stocks and bonds, precious metals purchased in solid form—referred to as bullion—are an important asset you can physically keep or store. Even with something like your home, if the mortgage isn’t paid off yet, you don’t have outright ownership. But with precious metals, you own what you buy. This comes with the added perk of being able to pass along what you purchase to your heirs if you prefer to do so.

Important Buying & Selling Perks

Precious metals, especially the commonly traded ones, have a tendency to experience price spikes from time to time. For instance, the highest price ever recorded for gold was just over $2,000 in early August of 2020. If you strategically buy and sell precious metals, it’s often possible to make a profit by taking advantage of spot price fluctuations. These are prices more likely to be directly affected by global economic conditions as well as supply and demand at any given time. 

Whether you’re looking for expert advice on precious metals or searching for the best place to buy gold in Scottsdale, make sure to work with trustworthy precious metals dealers who offer high-quality service and have years of experience. Call on the industry-leading professionals at First National Bullion when you’re ready to invest in precious metals, including gold, silver, platinum, and palladium. Give us a call today at (480) 546-5089.

The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.

By |2022-08-24T00:46:23-07:00August 25th, 2022|Miscellaneous|0 Comments