NEW YORK, Oct. 22, 2019 /PRNewswire/ -- A new survey of 1,500 Americans between the ages of 18 and 65+ was launched to explore precious metal ownership amongst the US population. Gold IRA Guide, an established gold magazine providing investors and retirees all pertinent information about investing in precious metals, commissioned the survey using Google Surveys, an independent survey provider.
Survey Question & Findings
The survey asked 1,500 Americans the following question:
Do you own any gold or silver (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, 82.4% of respondents indicated that they didn't own either. Interestingly, when demographic filters were applied to the results targeting individuals between 18 to 24 years old, the percentage increased to 87.6%. When gender was targeted, 88.4% of females from this cohort indicated this response.
The current quandary of the global economy 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.
The next most popular response among participants was 9.1%, who said they owned both gold and silver. When demographic filters were applied to the survey results specifically focusing on respondents between 45 and 54 years old, 12.4% indicated that they owned both of the precious metals. When specifically middle-aged males were targeted, the percentage increased further to 14.3%. Middle-age investors tend to be established within a career, and thus possess the disposable income to invest in an alternative asset like gold or silver. Moreover, this demographic is perhaps most likely to be diversifying their portfolios in preparation for retirement.
Of the respondents to the survey, 5.6% stated that they owned silver, but not gold. Curiously, when demographic filters were applied focusing on females between 35 and 44-years-old, 7.8% of this age bracket selected this response. In fact, this cohort had the highest percentage of respondents who indicated that they only owned silver. Conversely, only 1.8% of males from the same age bracket said they owned silver. Respondents from this demographic were more inclined to only own gold.
That said, 2.9% of all participants in the survey indicated that they owned gold, but no silver. As mentioned, males between 35 and 44 were most inclined to own only gold – at 5.1%. This was the age bracket 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 silver and gold. 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 12% of Americans own gold, while a combined 14.7% own silver.
See the complete breakdown at: https://goldiraguide.org/12-of-the-american-population-owns-gold-while-14-7-owns-silver-according-to-a-new-survey/
SOURCE Gold IRA Guide