Poll responds .. Are young people less interested in gold than their parents and grandparents?

محمد بنكسم Free Membership

Young generations - especially those born in the mid-1980s and above - are often perceived by people as not enthusiastic about investing in gold in its various products compared to their parents and grandparents, but the results of a World Gold Council survey partly disagreed.

The survey of 18,000 people in India, China, the United States, Canada, Germany and Russia addressed issues related to people's relationship to gold, whether small investors (individuals), the disparity in the perception of the yellow metal between different generations, and their emotional attachment to this metal, as well as buying behaviors.

Young generations' perceptions of the yellow metal are not very different from those of older generations, but there is some difference in the approach of the generation born between 1995 and 2010 to their relationship with gold. Buys gold for long-term returns.

Risk characteristic
The risk profile associated with young people also affects their relationship to investment in general, including investment in gold, unlike older age groups that choose a safe, risk-free zone. Another difference is that the tendency of young investors to make quick profits makes them accept virtual currencies, unlike older investors.

In general, gold ranked fourth in investment preference for all generations, while the ranking of virtual currencies varied by generations, it is ranked eighth for the generation of 18-24 years, and ranked 12 for the generation of 35-44 years, and ranked 14 for the generation of 45-54 years .

Asked if confidence in gold was greater than confidence in national currencies, 56 percent of 18-24-year-olds said it was. To 60% in the generation of 45-54 years, and to 56% in the generation of 55-65 years.

Purchase intention
With regard to the intention to buy gold in the next 12 months, the proportion in China was 42% for the age of 39 years and older, 37% in the generation of 23-38 years, and then fell to 12% in the generation of 18-22 years. In India, 36% were aged 39 and older, 33% were aged 23-38, and 24% were aged 18-22.

For the US market, the rate is much lower, at 18% for the first generation, 19% for the second generation, and 11% for the third generation.

The World Gold Council survey concludes that there is little difference regarding the intention of buying gold jewelery in the next 12 months among fashion consumers between the ages of 23-38 years and older generation (39 years and older), but the difference is clear between the older generation and the 18th generation. -22 years.

Social value
The difference between generations is also seen in the perception of the social value of gold: 88% of the 55-65-year-old generation in China believes that his possession makes you distinct among people, while the proportion drops to 69% at the age of 25-34 years, and 47% in the 18th generation -24 years.

In India, 85% of 55-65-year-olds say that possession of gold jewelery makes people special, 75% in 25-34 years and 68% in 18-24 years.

The poll found that people trust gold more than paper money, it comes third among the most popular areas of investment, where 48% of individual investors said they chose to buy gold, after savings accounts (78%) and insurance (54%) .

65% of consumers of fashion products said they bought gold jewelery and 34% bought platinum jewelery. More than a third of small investors and fashion consumers have not bought gold in their lives, but they favor the idea.

Good haven
More than two-thirds of small investors believe that the yellow metal is a good place to save money and hedge against inflation and currency fluctuations. 65% expect gold will not lose value in the long run, while 62% say it holds them safe.

Given the uncertainties surrounding global economies, it is not surprising that 61% of investors say they trust the precious metal more than paper money, seeing it as a strategic commodity whose job is to preserve wealth or profit in the long run.

This confidence in gold is not due only to its value, because the emotional side share in this link, 81% of consumers of fashion products believe that gold is something so valuable that it is something transferred between family members through inheritance, and 65% say that gold is a reward for successes 57% believe that yellow metal brings good luck.

This confidence in gold is embodied in the appetite of people to buy it during the prominent social occasions.

Motivation and loyalty
According to the World Gold Council survey, 37% of the yellow metal holders said their motivation to acquire them is to achieve good returns in the long run, 30% said the motivation is to protect their wealth, while 18% were motivated to make short-term profits. % The motive is speculative risk and high profits at the same time.

According to the survey, people are much more loyal to gold than other commodities such as stocks, securities, virtual currencies and mutual funds. Investment and cryptocurrencies and 39% for stocks and securities.