Precious metals like gold have been recognized as a store of wealth for so many years. There is a limit to the number of precious metals produced in a year, and their scarcity causes them to increase in value. The major

precious metals are gold, silver, and platinum. Precious metals always have intrinsic value because they are tangible and are not controlled by governments or financial institutions. Precious metals like gold have outstanding advantages and are beneficial for many investors.
Benefits of adding gold and other precious metals to your portfolio
Diversification
Diversification of your assets is very essential. Most people hold paper assets that are prone to fluctuations after every crisis. To diversify your collection, you can invest in precious metals to avoid the risk of loss after investing in only one kind of investment.

Protection
Gold and other precious metals protect your wealth from political and economic uncertainty, such as a stock market crash. Precious metals are an excellent way to prevent you from losing to inflation.
Security and privacy
After you make a cash purchase of gold or any other precious metals, the ownership is private. Your portfolio does not have to be accounted for by financial institutions and the government. Gold is not subject to forces like inflation and market crash, thus adding security to your wealth.
Liquidity
Precious metals are the most liquid assets to have as an investment. Gold bullion, for example, is valued by their weight and metal content. These metals have are not influenced by myriad factors that affect investment types.
Increasing demand
The demand for gold rises every day and everywhere. There are so many industries that use gold and other precious metals to manufacture jewelry. Besides, many countries through central banks have managed to purchase about 459 tons each year.
Over recent years, there are so many cases where stock markets have fallen, but precious metals have remained as a haven for stability and security. As long as you know why you are including gold and other precious metals in your IRA or, it won’t take you long before you achieve your long-term financial goals. For first time precious metals investors a gold IRA comparison with reviews of different gold IRA providers is a good place to start.