Earlier this year we saw gold prices pegged back by a crypto craze but that bubble has now burst with investors definitely choosing gold over digital currencies according to a new survey.
Research carried out by Bankrate confirms that US investors favour the precious metal and will continue to buy it over cryptocurrencies for the next 10 years. Gold was also more popular than bonds – showing that this age-old store of wealth is still highly regarded as a stable, safe choice amidst moments of turmoil.
This show of support for gold suggests the precious metal will continue to be in high demand for at least the next decade, with the allure of Bitcoin waning. A total of 33% of investors said they were ‘not at all’ comfortable investing in digital currencies with an additional 28% classifying themselves as ‘not too comfortable’.
In addition to being an established safe haven, gold is also a smart choice in periods of economic and geopolitical turmoil; a situation that we find ourselves in right now with rising inflation, simmering international tensions and continuing economic uncertainty as a result of the ongoing COVID-19 pandemic.
Buy gold now.