Gold’s popularity as a long-term investment is growing.
In a recent Gallup poll, which is surveyed annually, respondents were asked about their preferred asset for long-term investing.
According to the results, the yellow metal is moving closer to real estate as the best option for a long-term investment as investors become increasingly worried about higher interest rates and economic uncertainty.
The poll found that 34% of Americans believe real estate to be the best long-term investment, which is down from 45% last year.
Yet faith in gold has nearly doubled, rising to 26%—the highest level since 2012 (after the 2011 debt ceiling crisis). It was a 15% jump from 2022.
Gallup said gold tends to be “beneficiary” when confidence levels in other investments are down. “This is typically during times of economic recession or uncertainty, as happened around the time of the Great Recession and is happening again today.”
The survey also determined that crypto was no match for gold. When cryptocurrency was added to the selection, gold stood its ground, keeping its coveted second-place spot.
With crypto’s fall from fame over the last year, that isn’t much of a surprise. “The percentage of adults aged 18 to 49 choosing cryptocurrency has fallen eight percentage points, from 13% in 2022 to 5% today, compared with no statistical change among those aged 50 and older, now at 4%,” Gallup reports.
Gold and the Debt Ceiling Debate
According to Bloomberg, the debt ceiling crisis is also pushing more investors to gold.
Bloomberg’s latest Markets Live Pulse survey found that gold is the top pick for those seeking protection from a default.
RELATED: Gold Investments Rising Amid Debt Ceiling Crisis. Here’s How You Can Invest
RBC Capital Markets strategist Christopher Louney believes the debt debate could create a near-term boost to the metal, which has been hoovering near a new record high.
“Even assuming a deal is eventually reached, we wouldn’t disregard potential growing financial angst as the deadline approaches,” he said in a note. “In the near term, we believe gold looks like the best hedge.”
“I wouldn’t be surprised if we had a $100 move in gold prices,” Oanda Senior Market Analyst Edward Moya told Insider when speaking of a U.S. debt default. “It’s a little too tough to call, but obviously that is a historic moment that would unravel large parts of Wall Street.”
Investing in Gold With Red Rock Secured
At Red Rock Secured, we are committed to helping hard-working Americans protect their retirement savings by converting their conventional IRA into a Self-Directed IRA that can legally hold precious metals.
This type of IRA could help protect your hard-earned wealth from inflation and economic volatility.
Red Rock Secured offers several storage options: Depsotiry IRA, Home Delivery Gold IRA, and cash transactions.
With our Depsotiry IRA, we’ll help you convert a percentage of your savings into a Self-Directed IRA that can legally hold precious metals tax and penalty-free (IRS CODE 408(M)(3)). Your Depository IRA is administered by industry-leading custodians who oversee all of your asset purchases and liquidations. Red Rock Secured will ensure that your metals are being stored in a top-tier depository with state-of-the-art security. You’ll have the option to select your preferred location and your metals will be 100% insured by Lloyd’s of London for up to $1 billion.
With our Home Delivery Gold IRA, we’ll have your metals shipped directly to your door, so you can store them at your discretion. You can learn more about that option here.
Our team of gold and silver specialists is ready to help explain and walk you through either process. Just fill out the form on the top right of this page to get started.