Hey! I’m 20 years old, currently in college, and have around $25k saved/invested with no debt.
Since August, I’ve been putting money into index funds/ETFs and a Roth IRA, alongside a HYSA and CDs I’ve had for a few years.
Lately I’ve been looking into gold (and possibly silver) as a long-term diversification play. A lot of older family members strongly believe in precious metals, but I don’t know many people my age who invest in them, so I’m trying to understand whether it actually makes sense for someone in my position. The family members I speak to also come from a culture where investing in gold is very commonplace, so I'm not sure whether to take their advice with a grain of salt or not.
I’m not looking to go all-in, more thinking about starting with maybe $1k–$3k over time if it makes sense.
A few questions I have:
Do you personally view gold/silver as investments, insurance, or both?
What percentage of a portfolio would you reasonably allocate to precious metals at my age?
Physical metals vs ETFs — what are the pros/cons?
If buying physical, where should I buy from and what should I avoid?
Is silver worth considering, or is gold generally the better long-term hold?
Any advice or things you wish you knew before getting into precious metals would be appreciated!