2 Key Advantages Precious Metals Have Over Cash

It’s no secret that cash is drastically losing its value. Excessive money printing, the COVID-19 pandemic and other factors have led to record inflation, with it hitting 9% in June 2022.

Leading many investors to diversify their hard earned dollars into precious metals like Gold, Silver and Platinum.

These metals have been around for centuries, but the biggest advantages they have compared to cash and other paper assets are:

Being Finite

Precious metals can’t be printed with the click of a button and are subject to much less government manipulation. They have a fixed supply and need to be drilled from the depths of the earth.

These factors make them a great choice during times of high inflation and uncertainty. Prior to 1971, the US dollar was pegged to an ounce of gold. Once this policy was ended, rampant inflation followed in the 1970s.

Having Multi Purposes

These precious metals also have many uses aside from being a means of exchange. For starters, most technology like computers, phones, and GPS devices have small amounts of gold.

These small amounts of Gold are perfect for conducting electricity and will continue to be in higher demand as technology advances.

Gold also covers the insides of space ships to protect astronauts from infrared radiation and heat.

Looking to add precious metals to your portfolio or even start a precious metals IRA?

Look into Lear Capital or Augusta Precious Metals today.