Social trading platform developer and broker, eToro, has announced that it is once again expanding the number of instruments that it is offering to clients by adding two precious metals, platinum and palladium, to its selection of commodities.
The precious metals will further enhance eToro’s portfolio of tradable assets available to its clients and follows
Precious metals provide a useful and effective means of diversifying a portfolio. There are a few reasons for this. They offer unique protection against inflation and insurance against financial or political disasters. In addition, due to their widespread industrial applications, they also have intrinsic value and a low correlation to stocks and bonds, hence a small percentage in a portfolio can reduce volatility and risk.
Gold and silver are not the only precious metals on the block. Platinum and palladium, though perhaps not as frequently present in our daily lives as gold and silver, are also worth considering as they are highly coveted for technical uses including in electronics, dentistry and catalytic converters, and have thus increased in value over the last few years. While palladium has been traditionally perceived as a cheaper and more available substitute for platinum, it has recently made a name for itself as a clean energy catalyst, hence its increasing popularity.
Both have therefore become highly popular on the commodities market, as with any resource that is both extremely practical and scarce, and are a safe haven for investors who wish to diversify in times of currency crises. Both precious metals are now available for trading online with Etoro.
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