Is it still worth getting started or investing in precious metals in 2024?

The question of whether it is worth investing in precious metals is always a complex decision that depends on various factors. In general, precious metals such as gold and silver are considered safe havens in uncertain economic and geopolitical times. Precious metals could therefore continue to be attractive in 2024. Nevertheless, it is important to be well informed about current market conditions, forecasts and long-term trends in order to make informed decisions.

Whether one should invest in gold, silver, or perhaps even both depends on personal preference, risk tolerance, and investment goals. Gold is often seen as a long-term hedge against inflation and financial turmoil, while silver can also benefit from economic growth due to its industrial applications. For example, a possible allocation could be 70% gold and 30% silver to capitalize on each other's strengths.

In addition to gold and silver, other precious metals such as platinum, palladium or rhodium could also represent interesting investment opportunities. These metals are often used in industry and could therefore benefit from increasing demand. It is advisable to keep a close eye on these markets in order to identify opportunities early on.

The question of whether to store precious metals at home or elsewhere depends on personal preference and security concerns. Many investors prefer secure storage facilities or vaults to avoid theft or loss. It is advisable to educate yourself on the various storage options and take appropriate measures to protect precious metals.

In the event of a financial crash, precious metals are traditionally considered safe investments because they have an intrinsic value and are independent of currency fluctuations. Gold and silver could therefore serve as a hedge in such a situation and even be used as an alternative means of payment. However, it is advisable to inform yourself about possible scenarios in good time and make appropriate preparations.

Important advantages and disadvantages of investing in precious metals:

1. Advantages:

   • Long-term value preservation and inflation protection

   • Safe investment in uncertain times

   • diversification of the investment portfolio

   • Possible increase in value with increasing demand

   • Use as a hedge against financial crises

     
     

2. Disadvantages:

   • Price fluctuations can lead to losses

   • No ongoing income such as interest or dividends

   • storage costs and safety risks

   • dependence on global market developments

   • Limited liquidity in direct comparison to cash

   • No guarantee of value increase in all market conditions

Conclusion: Overall, investing in precious metals can still be attractive in 2024, especially as a long-term hedge and portfolio diversification. A mix of gold, silver and other precious metals could be a good strategy to benefit from the various properties and developments of this asset class.