Are you planning to invest in metal this year but confused about where to invest in it? It is the major dilemma people face when choosing the best metal to trade. However, we have made it a bit simple for you by providing the list of some top metal for 2021. You can go with any of these. Also, we have steps for trading these metals and the best broker for trading metals in the article. Top 5 precious metals for trading in 2021 The king of metal gold is the most famous metal among investors and traders. Traders mainly use it as a hedging instrument in time of economic slowdown, the weak economy and high-risk conditions. Additionally, its value surges whenever the United States greenbacks decrease. Gold prices are continuously surging for five consecutive years. During the pandemic, gold alone was 30% high compared to the previous year. Many analysts anticipate that gold prices will continue to surge this year also. However, because of the safe haven tag, yellow metal tends to decline on market optimism. Hence, as counties are making successful attempts of Covid-19 vaccinations, gold could see a sharp fall. Also, the boosting dollar may affect the value. Silver is another popular choice among traders after yellow metal. If we talk about last year, silver came out to be one of the best investments and showed a growth of 50%. The major reason for the surging prices of silver is its primary role in developing solar power investments. It is a vital metal used in fabricating photovoltaic cells of solar panels. The demand for solar appliances and solar power is increasing as the world moves towards renewable energy sources. This trend is directly pushing the demand for silver and thus enhancing its price. Besides this, silver is also used in the manufacturing of tech equipment, cable, chips. Also, all these things have high demand in the market. Due to its role and versatility in the emerging and developed industries, silver can be the best performing metal this year too. The palladium has also shown a sharp increase because of its wide use in industries. The price of metal surged by 26% during the pandemic. Also, palladium is used to manufacture combustion engines, which are important for the car-making sector. Moreover, it is employed to fabricate fuel cells used in electric vehicles, where it stands in competition with platinum. Concerning more applications of palladium, it is used in smartphones and laptops manufacture. These industries require this metal in bulk. Thus, analysts predict that palladium will outperform this year and prove to be one of the best investments. This industrial metal plays a major role in the car-making industry. Platinum was only used in the manufacturing of diesel engines, but it also has a significant position in the greener world. A popular example of this is hydrogen fuels cells used in electric vehicles are made up of platinum. It is also used in optical fibres, hard disks, and a catalyst in various chemical industries. Platinum surged about 11% as compared to last year. However, if you talk about its trend in the year 2021, it is a bit mixed, mainly because of the big swings in the financial sector. Like silver and gold, platinum profits mainly from risk aversion among traders. Copper has multiple uses like any other metals. The major and big files demanding copper are the construction industries, electronics and the automotive. We can also say that the demand for copper is even greater than all metals listed above. In February only, copper surged from 3.5 dollars to 4.3 dollars per pound or roughly 23%. Since it has retreated from the high and currently trades around 4 dollars per pound, which is still high compared to previous years. There are strong predictions that the copper will grow further, offering excellent opportunities and profit. Best metals to trade in the year 2021
precious metal #1 Gold
precious metal #1 Silver
Precious metal #3 Palladium
Precious metal #4 Platinum
Precious metal #5 Copper
How to trade metals in 2021? For trading metals, you are required to open an account with a reliable financial service provider. We specifically used the word "reliable" as many fake firms are running around the world, which aims to steal your information and money in the name of trading. So, stay vigilant while choosing a broker. The steps involved in opening a brokerage account with the broker are as follows: Find an authentic URL of the official website and visit the site to sign up. The sign up will require your name, country and email id. If any broker asks for any sensitive information, immediately leave the site. Enter the OTP to verify and upload the documents asked by the broker. It mainly includes a passport or national id card, photo, address proof and bank statements. Once you upload documents, it is time to select the metal you wish to trade and account with that suits your trading objective and pocket best. Deposit the amount to get started
Top broker for trading metals T1markets: The Cyprus Securities and Exchange Commission regulates the broker, and you get a wide range of metals to trade. Global TradeATF: Global TradeATF is a leading and well-regulated firm. The broker offers all advanced tools for trading. HFTrading: The broker is regulated by ASIC and provides exceptional services at affordable prices.
The Bottom Line
Trading in metals is easy but remember it is better to enter the market with good knowledge. The best way is to learn from your mistakes. The broker's demo trading account helps you practice trade and allows you to change your strategies (if inefficient) beforehand.
Frequently asked questions
1)Which are the best metals to trade in 2021?
The best metal to trade in 2021 includes precious metals such as gold and silver and industrial metals such as palladium, platinum and copper.
2) Which is the best broker for trading metals?
The best brokers for trading metals are Global TradeATF, T1markets and HFTrading. All of them are leaders in the trading arena. Thus, you can choose any. The minimum deposit to start trading with these firms is $250.
3) What are the applications of palladium?
The uses of palladium are:
Palladium is used to manufacture combustion engines, which are important for the car-making sector.
It is employed to fabricate fuel cells used in electric vehicles, where it stands in competition with platinum.
It is used in smartphone and laptops manufacture.