CNBC Poll: Which Metal Play Is Best?
From the popular precious metals gold and silver to niche plays like copper, palladium and platinum, which metalwill be the best investment?
Conventional wisdom on Wall Street says it's a question of whether you're bullish or bearish on the economy.
Bulls favor platinum, palladium and copper because they are industrial metals linked to economic growth and move in the same direction.
Bears, on the other hand, are wary of the global economic downturn and are seeking a safe haven. Thus, for the past several years they've been buying gold and silver hand over fist, betting they will appreciate as the dollar falls.
Spot gold went from hovering around $910 per ounce in the summer of 2008 to hitting this year's all time high of over $1,900 per ounce. Silverprices were also up to over $40 per ounce from $17.
Niche metal spot prices have also risen dramatically, but trading volume is significantly lower.
Palladium for instance, hit $833 per ounce up from $445 per ounce two years ago.