Americans think gold beats stocks as a long-term investment
Carla Gottgens | Bloomberg | Getty Images
Americans are upbeat on gold and have soured on stocks — perhaps to their detriment. Twenty-six percent of Americans ranked gold as the best long-term investment in 2023, almost double the 15% who thought so in 2022, according to a recent Gallup poll. The share surpassed that of stocks: 18% of Americans ranked stocks as the top long-term holding, down from 24% last year, according to the survey. It was the first time since 2013 that their perception of stocks was below that of gold. Both ranked behind real estate.
While Americans were asked to gauge sentiment about the long term, public perception is guided more by short-term swings in investment performance, said Gallup, which polled a random sample of 1,013 adults between April 3 and 25. And that recency bias can be dangerous for investors saving for a goal like retirement, which may be decades away. "As a long-term investment, [gold] is a very poor solution," said Charlie Fitzgerald, a certified financial planner and principal of Moisand Fitzgerald Tamayo in Orlando, Florida. "It's more like a speculation," he added.
Stocks beat gold over the long term
Source: CNBC
