The US has always had a strong culture of investing in stocks. This is especially true about younger people, as the emergence of discount online brokers in the past few years solidified this trend. That’s why the results of the fresh Gallup survey are so surprising.
The survey showed that, for the first time since 2013, Americans are viewing gold as more profitable in the long term than stocks. 26% even named gold the best long-term investment, compared to just 15% in 2022. By contrast, stocks were named by just 18%, down from 25% in 2022.
The US media presented these results as positive, as they could serve as a countercyclical signal. Next, the report says that as economic prospects improve, investors should consider buying stocks rather than gold – but we are seeing the opposite. This negative sentiment (according to Gallup) could serve as the fuel that the stock market needs to start growing again.
However, the article doesn’t consider the reasons why gold has become so popular among investors. These reasons include high inflation, worsening economic outlook, the recent bank crisis in the US – as all of these pushed US investors to look for a safe haven.
On the other hand, gold has gone through a multiyear cycle of weakness starting from 2013 – when a similar Gallup survey also showed investors’ preference for the yellow metal.
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