The most valuable of all precious metals is rhodium. Platinum is next on the list of precious metals and is known to be non-corrosive and dense. A long-time favorite of precious metals investors, gold has been used as a store of value for thousands of years. Gold is known as an investment that tends to maintain its value well during economic downturns and that can overcome major recessions quite well.
Gold is also an excellent hedge during periods of high inflation compared to cash investments. While gold is a big investment, the cost of buying significant amounts of gold can be a bit prohibitive for some newer investors. Precious metals are rare metals that have a high economic value. They are valuable because they are scarce, useful for industrial processes, or have investment properties that make them a good store of value.
Notable precious metals include gold, silver, platinum, and palladium. Unlike fiat currency, which devalues over time, gold is an asset that maintains its value steadily, even during periods of inflation. Gold experiences volatility in response to market fluctuations, but it is considered one of the best hedges against inflation. Advantages include the ability of physical gold to track the price of the precious metal and the potential for gold stocks and ETFs to perform better.