Americans have soured on stocks and become more interested in gold as an investment, according to the Gallup Poll. One of six Americans says gold is the best long-term investment, according to Gallup’s annual Economy and Personal Finance Survey. The Gallup organization conducted the poll April 1-14, shortly after the stock market plummeted in anticipation of the economic devastation caused by the coronavirus global pandemic.
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The favorite long-term investment among respondents was real estate, at 35 percent, which has led the annual poll since 2013, a year after U.S. home prices began a strong rebound from the aftermath of the subprime housing crisis. Stocks were selected by 21 percent, down 6 percent from last year, and the lowest level since 2012. Savings accounts and certificates of deposit were the favorite of 17 percent of respondents.
Gold was picked as the best long-term investment by 16 percent of those surveyed, up 2 percentage points from last year. Gold was the top pick in 2011 and 2012, the last year gold traded above $1,700 an ounce. At the time, Gallup stated, gold “has been a safe haven in times of economic and political turmoil. It is a globally accepted store of value and one of the most highly desired precious metals.”
Bonds were selected as the best long-term investment by eight percent of respondents.
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