Precious metals are almost always a sound investment. They can hedge against inflation, boost wealth, and mitigate overall volatility in your portfolio. But in 2021, should you buy or sell precious metals? The answer isn’t so obvious. In one of the greatest bear markets in history, stocks and ETFs may seem like the answer. Yet you shouldn’t sleep on gold, silver, platinum, and others. Whether to buy or sell precious metals isn’t a simple choice. It’s one that you should review heavily before making a decision. And here’s what you should contemplate before deciding one way or the other.
Is 2021 the Time to Buy Gold and Silver?
Since the financial crisis in March 2020 due to the COVID pandemic, gold and silver have skyrocketed. While this is partially due to them hitting historic lows at the time, the gains have continued to rise. And while these prices are near all-time highs, the overall market is still gaining.
As a result, 2021 might be the right time to buy gold and silver. With industrial uses, businesses continue to covet these metals, driving the price even higher. But because the prices are already near the high end, investors should be ready to hold for the long-term. If you’re searching for short-term upsides, you may find yourself glued to a computer screen for the duration of the year.
However, many bullish investors also believe that the two metals are bound to hit all-time highs in 2021. Therefore, investors should follow the charts to ensure they sell for a profit or whether to hold as a long-term investment.
Is 2021 the Time to Sell Precious Metals?
If you bought into precious metals in early-to-mid 2020, you may be sitting on a pile of cash. But as mentioned above, the ceiling for such metals may still be in the future. That’s why you might want to consider holding your precious metal investments until later into 2021.
That said, taking profits is never a detrimental aspect to your portfolio. If you’ve reached the gains you desire or have your eyes on another investment, selling is a strategy that may work in your favor. But don’t underestimate the price of precious metals, as they may rally as COVID vaccinations roll out and restrictions ease.
Can I Trade My Precious Metal Investments?
You can always trade precious metals. Whether you have a precious metal ETF or the metal in-hand, other investors are always willing to take it off your hands. Trading a precious metal ETF is just like trading stocks, but selling actual bullion is a bit different.
Make sure you find a reputable dealer to get the best price possible without any underhanded tactics. By doing so, you can maximize your profits without the voice of doubt wandering through your mind.
Investments are never easy decisions. But without the drastic volatility found with most stocks, precious metals are a sound choice. While you don’t have to stay glued to the latest prices of gold, silver, or platinum, keep a watchful eye. Knowing when to buy the dips and sell at highs can make a huge difference in your wealth. With any luck, you’ll be laughing all the way to the bank.
Buy and Sell Precious Metals in Orange County
London Coin Galleries of Newport Beach is home to precious metals, bullion, coins, and more. We work with collectors and investors alike to make transactions happen fairly and quickly.
Buy, trade or sell precious coins in Orange County with us for the best value possible. We ask you to book an appointment first in order to allow ample private time as we transact with one customer at a time.