Precious metals trading has been getting more attention recently, since many people who bought gold, silver, and platinum in the eighties have been making a fortune on it with the recent skyrocketing prices. For some people, trading in precious metals is their livelihood. Even if you don’t want to trade in metals professionally or base your entire investment portfolio on them, though, you can benefit from adding some precious metals to your portfolio and learning how to trade them well.
For the most part, people view precious metals as long-term investments, and this is, indeed, what most people use them for. They are a way to build a base for wealth and to hedge against future disasters, but not really a way to make a decent profit in the short term. If you wish to use precious metals in this way, that’s just fine, but you can also get good at making a nearly immediate profit on precious metals by learning from dealers and traders around the world.
Just like with anything else, precious metals must be bought at a low price and sold at a higher price to make a profit. It just so happens, though, that the prices of these metals may be a little more predictable than the prices of various stocks and bonds. This is why some people can get good at predicting when they should buy and sell their precious metals to make a good return on their investment. Indeed, some people get rich in this way!