What, if any, are the pros and cons of speculating in precious metals, precious gems, and collectibles?

What will be an ideal response?

Answer: When timed correctly, these speculations can provide a nice return and you can escape the cons of other types of investments. The major problem here is that their value is based upon supply and demand and does not generate a return. Sometimes we may be tempted to sink money into these areas because of emotion or greed. It is anybody's guess what might happen to them in the future.