Palladium in an IRA - Worth it? Or stick with gold/silver?
- ā¢I'm brand new to the Gold IRA world, just started dipping my toes in about 6 months ago.
- ā¢So far, I've got about $10k invested, almost all in gold and a tiny bit of silver.
- ā¢My broker mentioned diversifying into palladium.
I'm brand new to the Gold IRA world, just started dipping my toes in about 6 months ago. So far, I've got about $10k invested, almost all in gold and a tiny bit of silver. Iām a teacher here in Columbus, and honestly, with all the economic uncertainty, I'm just trying to make sure my retirement savings aren't just sitting in a 401k getting hammered.
My broker mentioned diversifying into palladium. I know it's a PGM, but I really haven't done much research on it. I looked at some charts and wow, it's been a bit of a rollercoaster lately. On one hand, the industrial demand seems pretty solid, especially with catalytic converters, but on the other hand, there's always talk about platinum substituting it. What are everyone's thoughts on palladium for an IRA, especially in a smaller portfolio like mine?
I'm looking at potentially putting maybe $1k-$2k into it if it seems like a wise move, but I'm really hesitant to stray too far from the traditional gold/silver that everyone recommends for stability. Is it worth the higher volatility for the potential upside, or is it just added risk that I, as a newbie, really don't need right now? Any insights or experiences with having palladium in your IRA would be super helpful!