Men, seniors, middle-income Americans, and Republicans are more enamored with gold
by Dennis Jacobe, Chief Economist, August 25, 2011
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.
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