In Singapore, Investment Precious Metals (IPM) are excluded from the Goods and Services Tax (GST). Because the industry widely recognises the rare earth metals produced by refiners with accreditation (as having the pre-requisite quality to be traded on international markets and are legally accepted for delivery on most commodities exchanges), the basis for GST exemption for IPM is based on LBMA and LPPM accreditations.
Here are five precious metals you can invest in and make the most of your hard-earned money:
Gold: Gold is an effective hedge against currency depreciation and inflation. Inflation, global gold trade, and other geopolitical events influence gold performance. Gold prices in Singapore and across the globe have stayed constant in the face of such unpredictability, outperforming other asset classes while absorbing economic shocks more effectively. Inflation raises the price of gold by eroding the value of money by reducing the dollar’s buying power. As a result, gold becomes an inflation hedge as it accumulates over time.
Silver: Silver has been around for a long time, and as a valuable, limited-supply metal, it has provided investors with a sense of security. Some people appreciate silver because it is the second most precious metal to invest in after gold. Despite this, silver is far less costly than gold. In terms of investing, silver provides benefits that are similar to those of gold. In addition, many people turn to silver during uncertain economic times and rising costs to protect their portfolios from loss.
Platinum: Platinum’s appeal among investors has skyrocketed. Where this commercial-grade metal ends up determines how it is used. It’s employed in fuel cells in the latest generation of electric automobiles to a lesser level. Platinum is greatly sought after by people who consider it superior to gold due to its scarcity and expensive cost.
The investor’s risk appetite determines any investment portfolio’s balance. As a result, many investors regard precious metal holdings as a haven or a way to insulate themselves from riskier investments elsewhere. So if you want to add platinum to your portfolio, you can check the prices of precious metals in Singapore and explore its various investment possibilities.
Palladium: Palladium is a valuable metal frequently likened to platinum and has a wide range of applications in the chemical and electrical sectors, as well as jewellery and dentistry. According to Singaporean experts, palladium can help investors decrease portfolio risk by hedging against inflation or diversifying their portfolios. Investors can diversify within asset classes, just as they would with different types of assets in a diversified portfolio, including palladium and other precious metals.
Rhodium: Precious metals have progressively risen to prominence recently and are becoming an appealing alternative for diversifying investment portfolios. Rhodium is a valuable metal that, together with platinum and palladium, is part of the Platinum Group Metals. It is the rarest of the three. Unlike a decade ago, when the typical person couldn’t get their hands on rhodium, there are now various options from Singapore to invest in this valuable metal.
Equipped with an introductory knowledge of these five precious metals, you can kickstart your investment journey today.