Five alternatives to gold Commentary: Silver, copper, platinum and other assets to consider

(MarketWatch) — Gold has extended its record streak recently, as prices hover near $1,350 an ounce. But while the 2010 gold rush is making a lot of headlines, it’s important to not overlook other hard assets that are also surging.

Silver, copper and platinum futures have all rallied to fresh highs recently as well.

With all the talk about a gold bubble in the works as investors rush to stake their claim in this asset, it’s worthwhile to take a look at other hard assets that are good investment alternatives to gold. Each of these offers its own strengths and weaknesses, but most importantly are ways to diversify your holdings away from gold if you are worried about a crash.

Here are five hard-asset alternatives for investors to consider:

Platinum

Appeal: You may not know it, but platinum comes in bars and coins just like gold and silver — and since it’s one of the most valuable metals per ounce, you won’t have to worry about spatial limitations when stowing Armageddon funds in your safe or bunker. For those of you with a less catastrophic outlook looking for a good long-term investment, platinum has the added appeal of industrial applications (including catalytic converters for automobiles) as well as luxury items like jewelry. So if and when consumers start spending again, platinum will see a spike in demand.(more)