In various forms precious metals (gold, silver, platinum, palladium) can be included in an investment portfolio. For example, bullion bars, coins, unallocated metal accounts, units of industry funds and shares of gold mining companies, as well as derivative instruments – futures and options on gold.

Bullion bars
The advantage of gold bars is 100% protection against bankruptcy of the bank where the bars are stored: you can always get your gold. The disadvantages are that the price of bullion bars includes 18% VAT, the cost of their storage in the bank, and the difference between the purchase and sale price.
Coins
Investment, commemorative and anniversary coins are a good option for those who want to keep metal on hand. The price of coins rises both due to the increase in the cost of precious metal and due to the limited circulation: after a while coins disappear from the market, supply decreases and demand increases. VAT is not charged on coins, but the difference between the purchase price and the sale price is always not in favor of the investor (if the metal itself has not increased in value).
It makes sense to use bullion bars and coins when the investment horizon is several years or even decades.
Impersonalized Metal Accounts
OMC is similar to deposits, but with the difference that the currency of the deposit is precious metal. An impersonalized metal accounts are not subject to VAT, but they are not backed by physical metal and do not fall under the protection of the Deposit Insurance Agency. By closing the account, only the cash equivalent of gold can be retrieved.
Funds
Funds of precious metals and shares of gold mining companies are a liquid investment option. They are expressed in a certain currency, so there is a risk that even if the price of precious metal rises, the investment currency will lose value. In addition, the share price of a gold mining company does not 100% repeat the dynamics of gold prices.
Derivative instruments
These are futures and options on gold – buying or selling precious metals at a predetermined date in the future, but at the price negotiated today. These instruments require specialized knowledge and are recommended for experienced investors.