In the US, 56 percent of adults own stock. if you’ve got some extra money, it’s always a good idea to invest, as you can see your money grow with little to no work.

However, don’t just focus on stocks. It’s good to diversify your portfolio, and many are turning to precious metal investing too.

When it comes to precious metal investing, there are two at the forefront: gold and silver.

So which one’s better? And how can you make smart investments? Read on to find out!

Gold Investing

Gold’s been an age-old precious metal that’s highly sought after, and for good reason. It’s uncorrelated to stocks and other major asset classes, so it’s a powerful diversifier.

Gold is also typically not very volatile, so it can be something safe to put your money in. However, it’s fairly expensive, so you need to come ready with strong finances.

Silver Investing

Silver tends to have a much lower value than gold. In fact, investors usually look at gold to silver ratios, and these can be as high as 120:1! 64:1 is considered on the low side, and nowadays, we’re looking more at a 68:1 ratio.

While silver is more volatile and isn’t worth as much as gold, it’s a great precious metal to get started with. So if you’re new to investing and don’t have much cash to work with, invest in silver.

Also, silver’s value is slowly but surely growing, so it’s a nice precious metal investment if your main goal is growth.

But do note that because silver is volatile, price swings are common. Investing in this precious metal means you’ll need to keep your ear to the ground.

Which One’s Better?

Neither is the “better” precious metal to invest in, perse. It’ll depend on your personal situation which is the wiser investment.

If you have at least a few thousand dollars to invest, and you want stability and to hedge against inflation, then gold’s a good choice. But if you have a portfolio value under $35,000 and want larger gains, and are willing to take on larger risks, then silver can be the better option.

Of course, the best option is to invest in both gold and silver. This diversifies your portfolio and gets you the best of both worlds!

But before you make any type of investment, make sure you do some research first and choose a good firm to invest through. For example, you might hear about Noble Gold complaints. But in reality, they’re a reputable firm that’ll help your money grow.

Get Started On Precious Metal Investing

For precious metal investing, as we’ve said, it’s a good idea to diversify. While one might be “better” than the other to invest in regarding your personal circumstances, the best scenario is to dabble in both so not all your eggs are in one basket.

Need more tips on how to invest your money wisely? Then take a look at the rest of our blog page now.