A new survey highlights what the average American feels towards ownership of the precious metals.
NEW YORK, Sept. 1, 2020 /PRNewswire/ — A new survey of 1,500 Americans between the ages of 18 and 65+ reveals the opinions of gold and silver ownership with some compelling results. Gold IRA Guide, an established publication providing investors and retirees all pertinent information about investing in precious metals, launched the survey.
Survey Question & Findings
The survey asked 1,500 Americans the following question:
Do you own any gold or silver (bullion coins/bars)?
I don’t own either.
I own both gold and silver.
I own some silver. No gold though.
I own some gold. No silver though.
According to the findings of the survey, when asked if they owned any gold or silver, 84%, of respondents indicated that they didn’t own either. Interestingly, when demographic filters were applied to the results targeting gender the percentage increased to 88.1% of females. With women 45 and 54 years old, it then rose to 89%.
The present quandary of unprecedented uncertainty brought about by the global COVID-19 pandemic, perhaps has made American investors far more risk-averse than presumed, even when considering an asset like gold, which typically has been viewed as a hedge against economic turmoil. This seems particularly true with older investors either approaching or in their retirement years.
The next most popular response among participants was 6.5%, who said they owned both gold and silver. When demographic filters were applied to the survey results specifically focusing on Millenial respondents, 7.5% of participants between 25 and 34 years old indicated that they owned both the precious metals. When specifically Millenial males from this cohort were targeted, the percentage surged further to 10.9%. Given the present economic uncertainties surrounding the global pandemic, Millennial investors specifically appear to be turning to historical hedges like gold and silver, more so than older investors.
Of the respondents to the survey, 5.1% stated that they owned silver, but not gold. Curiously, when demographic filters were applied focusing on males, the percentage increased to 7.4%. Additionally, when demographic filters were applied focusing on males between 18 and 24 Years Old, 10.7% of this age bracket selected this response. Conversely, only 2.2% of females from this demographic said they owned silver, but no gold, making it the least popular survey response for this demographic.
That said, 4.3% of all participants in the survey indicated that they owned gold, but no silver. Millennial females between 25 and 34 years old were most inclined to own only gold – at 5.8%. This was the cohort with the highest percentage that indicated this response.
“The results of this survey are very interesting, especially when it comes to who chooses to own only gold and silver, specifically. Also, the fact that more Americans own silver over gold is intriguing,” said Amine Rahal, CEO of Gold IRA Guide.
According to the survey results, a combined 10.8% of Americans own gold, while a combined 11.6% own silver.
See the complete breakdown at:
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SOURCE Gold IRA Guide