1-866-646-8465

1-866-646-8465

Black pot full of gold coins with shamrock

Building Your Own “Pot of Gold”? Don’t Forget These Other Precious Metals.

AngelaRoberts

Written by Angela Roberts

Mar 17, 2022

Happy St. Patrick’s Day! For some, today is strictly a religious holiday. For those of Irish descent, the day is often a time to celebrate their heritage. For others, it’s a chance to celebrate the melting pot that is American culture—a collection of people from around the world, all bringing something unique that helps us define our nation.

We all celebrate in different ways, but one of the most iconic symbols seen around the country this time of year is the magical “pot of gold” found at the end of a rainbow. It’s a fun emblem of a classic Irish myth, but also an important reminder of how widespread the love and reverence for gold is.

However, as enticing as gold can be, it’s important that when we create our own “pots of gold,” we don’t forget to explore other precious metals as well.

Gold has seen impressive gains over the long term.

Let’s step back 20 years. According to Macrotrends, gold averaged $462.26/oz. in March 2002. Come back to today, and gold is trending at around $2,000/oz.—an increase of more than 330%.

According to a March 10, 2022, article by Reuters, “A rush to safe-haven assets earlier this week has pushed gold near the record levels hit in August 2020.” As geopolitical unrest combines with financial uncertainty here in the United States while markets await interest rate hikes by the Federal Reserve, consumers seem to be seeking out gold as a hedge for their portfolios.

But those who are only looking at one precious metal may be missing out.

Other precious metals have also been gaining additional attention.

 

As I said last in last week’s Gold News & Views, one opportunity is often a sign that others may be waiting around the corner.

Palladium has been making headlines alongside gold recently. Reuters noted on March 10, 2022, that palladium “hit a record high of $3,440.76 on Monday [March 7, 2022, based] on fears of supply disruptions from top producer Russia.”

Macrotrends reports that palladium prices averaged $374/oz. in March 2002. That’s an increase of more than 819% over 20 years. Even prior to the current geopolitical unrest, palladium was expected to rise. In May 2021, consultants Metals Focus were predicting record prices as well as a deficit, according to Mining.com.

Platinum saw a surplus of supply in 2021, but on March 8, 2022, Reuters quoted Trevor Raymond, director of research for the World Platinum Investment Council, as saying that the “market remains pretty tight.”

In a February 17, 2022, article by Barron’s, Edmund C. Moy, former Director of the United States Mint and U.S. Money Reserve’s Senior IRA Strategist, was quoted as saying, “As the global economy recovers from the pandemic, expect to see silver demand rise from the industrial sector.”

Though consumers often tend to focus on gold as a hedge against certain market factors, you may want to explore diversifying your financial pot of gold.

U.S. Money Reserve can help you add additional color to your personal pot of gold.

Whether your personal pot of gold is made up of bullion, certified coins, a self-directed precious metals IRA, or a mixture of all three, U.S. Money Reserve can help you add further layers of protection to your portfolio by helping you diversify with a variety of precious metals products that fit your unique financial situation.

There’s no telling what may happen in this world of financial and geopolitical uncertainty, but as we’ve seen in the past weeks, this world is also full of opportunities—if we know where to look. So as you celebrate this St. Patrick’s Day, don’t forget that it may be a good time to explore the creation (or revisit the contents) of your very own pot of gold.

Subscribe

Sign up now for latest executive insights and latest news delivered right to your inbox.
  • This field is for validation purposes and should be left unchanged.

Related Articles

How to Get the Most Out of Diversification

How to Get the Most Out of Diversification

On May 11, 2022, Forbes published an article regarding alternative assets and their importance in a portfolio. But knowing what to do and knowing how to do it are very different. With so many options and strategies, how can you know you’re making the best decisions...

read more

Executive Insights

Latest Market News

Press Releases