• Physical Bullion: The most traditional way to invest in precious metals is by purchasing what is known as physical bullion, which can take the form of coins or bars made of gold, silver, or platinum. Bullion can be purchased from reputable dealers or online retailers. It is imperative that you do your research prior to executing a purchase to ensure that you are buying from a reputable source.

• Exchange-Traded Funds (ETFs): Put simply, ETFs are investment funds that are traded on stock exchanges like a stock. Precious metal ETFs hold physical bullion or derivatives that are linked to the price of precious metals. This allows investors to gain exposure to these assets without having to physically hold them — a significant barrier to entry for many.

• Mutual Funds: Mutual funds invest in companies that mine or produce precious metals, and are a popular investment option. An advantage of investing in mutual funds is that this investment option allows investors to diversify their portfolio across multiple companies.

• Futures and Options: These are essentially contracts that allow investors to bet on the future price of precious metals. Futures are contracts to buy or sell a specific amount of a commodity at a predetermined price and time in the future. Options are similar to futures as they give investors the right — but not the obligation — to buy or sell a commodity at a predetermined price and time in the future.

• Mining Stocks: Investing in mining stocks, or companies that mine or produce precious metals, is another way to gain exposure to precious metals. Investing in mining stocks can be more risky than previously mentioned options, but can also offer potentially higher returns.

Although investing in precious metals is not without risk, these assets can provide several benefits, especially in times of financial uncertainty, especially if incorporated into an already diversified portfolio.