Gold more popular than Stocks

5.18.23 - Gold more popular than Stocks

Gold last traded at $1,956 an ounce. Silver at $23.50 an ounce.

Americans have more of a hankering for gold than stocks for the first time in a decade -Quartz

After a tough 2022 for stocks, gold is seen as a wiser long-term investment, a Gallup poll finds

For the first time in a decade, Americans think that gold is a safer bet than stocks for long-term investment, according to the results of a new Gallup poll. In fact, as 2022 proved a brutal year for the stock markets-the worst since the financial crisis in 2008-Americans' favorable perception of gold nearly doubled.

Gold now runs a clear second place in American perceptions of investment options, behind real estate, the perennial leader since 2013.

The Gallup poll, run in its present version every April since 2011, asked respondents to rank real estate, gold, stocks and funds, savings deposits, and bonds. Gold wasn't a part of this menu of choices until 2011, a few years after the subprime mortgage crisis and the accompanying recession, when it began rising in popularity.

As markets recovered after the crisis, gold dipped back down in the rankings. But its resurgence last year shows that Americans are feeling a distinct lack of confidence in their their traditional investment options-a mood not dissimilar to that prevailing in 2008.