In a surprising shift in investment trends, millennials are outpacing both baby boomers and Gen X-ers when it comes to investing in gold. A recent report from State Street, as cited by Business Insider, reveals some intriguing trends from a survey conducted by SPDR ETFs:
- On average, millennials allocate 17% of their investments to gold, a significant increase compared to the 10% allocated by their older counterparts.
- An overwhelming majority (88%) of those surveyed who currently hold gold consider it a long-term investment. Over 70% believe that their gold investments have positively influenced the performance of their overall portfolios.
- More than half of all respondents who hold gold plan to increase their gold holdings in the next 6 to 12 months.
Given that millennials have witnessed several major economic crises and experienced the ups and downs of several market manias, it’s understandable that this generation would lean towards investments that offer security and wealth preservation.
Interestingly, 69% of millennials thought gold ETFs were the best way to invest, compared to Boomers at 55% and Gen X at 35%. However, if millennials are truly seeking the protective benefits of gold, they might be better served by owning physical gold bullion.
Physical gold bullion is a tangible asset that’s been accepted as money around the world for thousands of years. Gold ETFs, also known as “paper gold”, offer exposure to the price movements of the metal, but don’t offer the advantages of owning the actual asset. In times of economic instability or a crisis, own what’s real: gold or silver bullion held in your name and available when you need it.
Article courtesy of GoldSilver
