What is the best metal to invest in right now?

The past few months have been a wild ride for precious metals investors. Gold has shattered record after record, briefly touching nearly $5,600 per ounce at the end of January before tumbling in one of its sharpest recent pullbacks. Silver prices have been climbing rapidly, but the metal also had its worst single day since 1980. Platinum has hit multi-year highs. If you’ve blinked, you’ve probably missed something — and if you panicked, you may have made a costly mistake.

That precious metal market volatility isn’t just random noise, though. The shifts in precious metal pricing reflect a broader economic environment, one that’s kept investors on edge amid persistent inflation, mounting government debt, geopolitical tension and uncertainty about where the Federal Reserve will take interest rates next. When traditional investment assets feel shaky, investors tend to look for tangible assets to hold onto and precious metals have historically filled that role.

But not all metals are built alike, and not all of them make sense for every investor right now. So, before you put any money into the space, what should you know about the best metal options to consider right now? That’s what we’ll examine.

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What is the best metal to invest in right now?

There’s no single right answer to this question because the best metal for your portfolio depends on factors like your risk tolerance, time horizon and what you’re trying to accomplish. That said, a handful of options stand out as worth considering in today’s market.

Gold 

Gold remains the anchor metal for many investors, and for good reason. It’s highly liquid, widely recognized and tends to hold up better than many assets when markets get turbulent. And, while gold prices have pulled back somewhat compared to record levels, the underlying demand story hasn’t changed. 

Central banks are still buying at record levels, investor appetite for safe-haven assets remains strong and major institutions and analysts have gold price forecasts that sit well above the current price by year-end. The recent gold price pullback has also given some investors a more attractive entry point than they had a few weeks ago, so overall, it could be a good time to buy in.

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Silver 

Silver is where things get more interesting — and more volatile. Compared to gold, silver is the higher-octane alternative for investors willing to stomach more risk. It has a dual identity as both a precious metal and an industrial commodity and is used heavily in solar panels, electronics and other green energy…