When it comes to securing safe long-term investments, more than a third of Americans believe that gold is the way to go according to results from a recent Gallup poll.
According to the opinion polling organization, 34 percent of Americans feel gold is the best long-term investment—even over real estate, stocks and mutual funds, savings accounts, CD products or bonds. The results cut across gender, age, income or party affiliation, though men, senior citizens, middle-income Americans and Republicans were more likely to show a preference toward gold than other Americans.
Women and upper-middle class Americans were more likely than other groups to show a preference towards the next most popular long-term investment option: real estate. Lower income Americans were more likely than other groups to pick savings accounts as the best long-term investment option.
In comparison, 19 percent of those polled saw real estate as a good long-term investment. An additional 17 percent of Americans felt that stock and mutual funds were a good investment while, while 14 percent believed that savings accounts and CDs were a good investment. The remaining ten percent of Americans showed a preference for investing in bonds.
Here’s exactly how those results broke down:
|Gold||Real Estate||Stocks/Mutual Funds||Savings accounts/CDs||Bonds|
|18 to 29||26%||225||14%||18%||16%|
|30 to 29||35%||17%||19%||17%||6%|
|50 to 64||35%||23%||17%||11%||12%|
|$75,000 or more||31%||23%||26%||8%||8%|
|Less than $30,000||34%||17%||5%||23%||14%|
Gallup’s predicted that the confidence Americans have in gold could either be the sign of some sort of bubble for the metal, or further proof that Americans lack confidence in today’s economy.
Gold’s popularity became evident in the state of Utah earlier this summer, when the state decided to make both gold and silver a legal currency in the state. The bill legalizing the use of gold and silver as a method of payment was signed into law by Gov. Gary Herbert and became effective on May 10. The bill, introduced by the state’s Republican state representative Brad Galvez, came to light upon concerns of the U.S. dollar’s diminishing value and inflation.
Read more: Gold, Silver to Be Legal Currency in Utah