A Look at Derivatives and Precious Metals

In the long term, precious metals have proven themselves to hold their value (and by long term, I do mean long term -- we've been after silver and gold for thousands of years). So, if you're looking for steady appreciation over the long term, precious metals might just be a golden investment for you.

To learn more about precious metals (for example, the advantages and disadvantages of owning metals instead of the mining stocks), check out these resources on TheStreet.com:

• "Ask TheStreet: Precious Metal"
• "Ask TheStreet: Glittering Gold"
• "Street Smarts: What Is the Gold Standard?" (video)
• "How to Play the Commodities Markets"
• The Latest Commodities (and Energy) Stories

Even if you're new to the investing arena, the worlds of derivatives and precious metals might be worth looking into. Each is very different from the world of stocks and bonds, but either one of these nontraditional investments could be your golden ticket to a great return .

Homework Time

Here's an assignment for each investment that could help you get sure footing before you put your money on the line.

1. Dig In to Derivatives: Check out All About Derivatives by Michael Durbin. It's a readable, in-depth primer on trading derivatives that doesn't cost as much as a college textbook.

2. Paper Trade Precious Metals: If you're interested in trading precious metals, you're going to have to familiarize yourself with technical analysis and that means charts (see the "Chart of the Day" Column). "The Basics of Technical Analysis" on TheStreet.com is a good start. Then, when you're ready, do some "paper trading" to see if you're on the right track.

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