Yes, it is possible to profit by investing in precious metals like gold, silver, platinum, etc. Here are some key ways that precious metals can potentially be profitable:

• Inflation Hedge – Precious metals have historically been seen as a hedge against inflation. In times of high inflation, precious metals tend to retain their value better than other assets. Investing in precious metals can potentially offset the risks of inflation eroding the returns of other investments.
• Demand Growth – Economic development in emerging markets is driving demand growth for precious metals like gold and silver for both jewelry and investment purposes. Rising demand combined with constrained supply can lead to higher prices.
• Weakening US dollar – Precious metals prices often move in opposite direction to the US dollar. When the dollar weakens, investors tend to move into precious metals as a store of value, driving up prices.
• Portfolio Diversification – Adding a precious metals allocation to a portfolio of stocks and bonds can provide increased diversification. This is because precious metals tend to be less correlated to movements in other asset classes.
• Low Interest Rates – When interest rates are low, the opportunity cost of holding non-yielding assets like precious metals is minimized. This can boost investment demand.

However, there are risks like volatility, storage/security costs, and liquidity challenges with precious metals as well. Proper research and prudent allocation is advisable for long-term positive returns. Actively trading precious metals can be extremely risky due to volatility.