-
Essay / Investing in Precious Metals - 588
Investing in gold or silver is a good way for many people to diversify their accounts. These are valuable products that have proven themselves. Gold was often used as currency in ancient times. Later it was used as a guarantee of a nation's wealth. Silver was also used as currency in the past. Today it is the most useful industrial product after oil. Physical gold and silver are limited resources. There is just enough investment grade gold for each living person to own just a third of an ounce. Investment grade silver is even rarer. There's just enough so everyone can have a 1/14th ounce. When considering gold or silver, the key is to understand the benefits and risks of each type of investment. You must first decide whether you will work with a long-term or short-term investment. You also need to decide whether you are considering this investment to simply protect your wealth or whether you want to make any profit on your business. There are several ways to own precious metals. The most conservative strategy is to buy physical gold or silver....