Es
Pt
Arguably, many traders will say that Gold is the best precious metal to invest in 2019.
But what if I will show you other precious metals with amazing investment opportunities in 2019.
Today we will analyze five precious metals and conclude on who gets the title of the best precious metal to invest in 2019.
We will use common sense and technical analysis for our five candidates. If you’re new at investing in precious metals or commodities click HERE for a comprehensive guide.
Contents
Can Gold be The Best Precious Metal to Invest in 2019?
Gold prices have declined on February 20, from the price of $1346,64/oz to the lowest $1281,26/ozon March 07. That said, gold had a very good bull run from September 2018; the lowest price was $1181,06/oz and the highest at $1283,89/oz. The volatility nowadays is mostly because of unclear US and China traded balance and Brexit. Also, the same negative effect was upon the Australian dollar and the Swiss franc. For a better understanding of Gold correlation with Australian dollar and Swiss Franc click HERE.
Chart from tradingview.Using MACD in our analysis we can clearly see the slight decline in the daily chart; while Ichimoku clouds form a bullish trend. Look at gold’s behavior for the past six months; the correction was expected at the price of $1285,15. Also, it is safe to assume that gold will continue its uptrend with small corrections. So, does gold look like the best precious metal to invest in 2019?
Next Candidate is Platinum
Platinum had a solid run from August 2018; it deserved to be selected as one of the best precious metal to invest in 2019. The lowest price for platinum was $757,34/oz and the highest today at $889,40/oz. That said, what’s interesting with platinum is the low volatility in the past six months.
Definitely a much safer trading alternative than gold but not so rewarding. The same technical analysis was applied, and the founding is not so surprising for platinum prices. MACD signals an increase in demand for platinum and Ichimoku clouds is confirming the uptrend. Also, a correction is to be expected at $834,63/oz with possible new lows at $811,13/oz. That said, platinum is closer to be crowned as the best precious metal to invest in 2019.
Third, on our watch list is Silver
Many traders will disagree that silver deserves a spit among the best precious metal to invest in 2019, but it’s past and present performance might surprise you. The lowest price for silver was recorded in November 2018 at $13,91. Since then it kept trending higher every month with the highest price at $16,20 in February 2019. Today silver is testing the support at $14,95 and by the end of the week is expected to follow its uptrend.
Interesting is the fact that MACD shows a negative volume trade and Ichimoku clouds are forming at the price of $15,62. If silver penetrates the support at $14,95 it is possible for the price to drop at the second support of $14,61.
The price corrections are necessary for confident traders that are looking for long term investments.
Is Palladium a Precious Metal?
Palladium is a commodity but not a precious metal; the reason for adding it to our list of candidates is because of the increase in demand. In 2017 the price was at 2,173 units and increased for the past two years to 2,332 units in 2019.
You might say ok so what’s the big deal? How can palladium be the best precious metal to invest in 2019?
The answer is simple: palladium it’s used in catalytic converters; the same catalysis used for cars that reduce harmful emissions of 90%. That said, more cars are built every year with the increase of the world population; more palladium will be used for catalysts. Therefore, the imminent increase in demand with expectations of the process to reach $3,429 by 2022. As a result, after hitting its highest point of 65,081 units in March, palladium started to fall and meet the correction at 53,701 units.
Technical Analysis for Palladium
That is to say, MACD shows a negative trade volume with prices expected to drop at 53,701 units. If prices will fall to the second support line at 48,456 units then reversal will follow.
The reason for palladium to be overpriced is China’s 6 emissions legislation for 2020 and hence the correction.
Ichimoku clouds are forming above the resistance of 59,497 to 59,650 units; that level it’s expected to be traded in the next few months with moderate volatility.
Concluding the analysis of Palladium, we can assume that we can consider it as the best precious metal to invest in 2019.
Last but Not Least its Rhodium
Not many have heard or traded Rhodium but I’m here to tell you that its another candidate for the best precious metal to invest in 2019.
Rhodium’s among world’s rarest and most valuable precious metal with a current price of $3,030/oz.
Flashback from February 2018, prices were at 128,24 units and the highest recorded ever on March 15, 2019, at 298,25 units.
Units? What does that mean in dollars? Well, the highest value for Rhodium was $3,325.
The price declined fast on 28 March 2019 at $3,025 and pivoting now at $3,030 with signs of the uptrend from both MACD and Ichimoku clouds.
Concluding our Analysis
The winner for the title of The Best Precious Metal to Invest in 2019, goes to…..
I will let you decide!
From an investment point of view, all five deserve to be in your portfolio based on historical data and present performance.
For me, Palladium is the perfect pick from the five as The Best Precious Metal to Invest in 2019.
Like always I wish you all Happy Trading and Every Success!
I like how you mentioned that you should invest in silver! My husband’s friend told him about investing in precious metals last week and he wanted to learn more about it. I’ll make sure to pass this information along to him so he can know more about investing in silver and other precious metals.