Posted on 08/30/2011 10:21:16 AM PDT by Atlas Sneezed
PRINCETON, NJ -- Thirty-four percent of Americans say gold is the best long-term investment, more than say so about four other types of investments. Real estate (19%) and stocks (17%) are distant second choices.
The Aug. 11-14 Gallup poll was conducted at the end of a tumultuous week on Wall Street that sent the price of gold soaring.
Gallup asked a similar question from 2002 to 2010, but that question did not include gold. Real estate, savings accounts, and stocks jockeyed for the top spot during that time. Americans' faith in real estate and stocks suffered amid the 2008 economic crisis, but rebounded somewhat in 2010.
Gold is Americans' top pick as the best long-term investment regardless of gender, age, income, or party ID, but men, seniors, middle-income Americans, and Republicans are more enamored with it than are other Americans.
Women and upper-income Americans are more likely than others in their subgroups to point to real estate as the best long-term investment. After gold, low-income Americans are most likely to pick savings accounts as the best option for long-term investing.
(Excerpt) Read more at gallup.com ...
Good. It leaves more silver for me.
Shoe-shine Boy Offers Stock Tip To Joe Kennedy
Americans also chose Obama as president.
Funny, I don’t know many people that own gold. I’m a professional trader, not one of my co workers owns gold. I bet not 1 in 100 people has even 5% of their net worth in gold To say that gold is over owned in ridiculous.
And they are ignorant, sigh... Near-zero interest in an inflationary market is not an investment, it's throwing away your wealth. My son-in-law has been investing in gold, since it was $600/oz. Not as an investment, but to preserve his savings. He just sold a bunch and is buying a new home in Texas with the proceeds. Gold preserved his savings over time.
The odd thing is that when I ask around to casually find out what friends and acquaintances think about the economy and investing, and casually drop gold into the conversation, most have no thoughts on it, a minority are conscious of the issue (”Yeah, I should buy some gold”) but clearly have done nothing about it, and no one has acknowledged buying any gold or silver.
Actually, one friend is the exception.
I think this poll represents a perception, but no action. Most of the demand is overseas, so I don’t think this falls into the “stock tips from shoe shine boys” category.
Considering the beating stocks have taken in the last 10 years (zero return) and real estate in the past 5 years, I am surprised to see these assets score as high as they do.
Real estate (19%) and stocks (17%) are distant second choices
I have one cousin who accepted my advice and bought gold. He sold his holdings in July and bought a vacation home with the profit.
Beyond that one example I know of very few people who bought gold or silver.
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