I have heard about investing in precious metals. Infact every financial article i read right now talks about investing in gold and its likeslike but i need to know how it works? What happens when it is in your posession?
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If you actually own physical gold bars or coins, then it's yours. If you own a paper claim to gold, then you own a valueless piece of paper. If you take that paper to the bank, you will probably NOT be able to exchange it for real gold.
Same with silver.