Precious metal investment involves purchasing metals like gold, silver, platinum, and palladium for financial gain. Investors often view these metals as a hedge against inflation and economic uncertainty, as their value tends to remain stable or increase over time. Investing in precious metals can be done through physical assets, such as coins and bars, or financial products like exchange-traded funds (ETFs) and mining stocks. This type of investment can diversify a portfolio, providing a balance against more volatile assets like stocks and bonds.