Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Survey: Nearly Half of Australians Have Never Considered Investing in Gold

  by    0   1

Have you ever thought about owning gold?

That may seem like a strange question. You’re probably thinking to yourself, “Why everybody has at least thought about investing in gold.” But that’s apparently not true – at least not in Australia.  According to a poll conducted by Australia’s leading gold bullion company, 45% of Australians have never even thought about investing in physical gold.

The fact that so many people have never even thought about investing in gold explains why 85% of Australians don’t own any of the yellow metal.

While Aussies aren’t thinking about gold, overall interest in investing is on the rise in Australia. According to a survey by the Australian Security Exchange (ASX), 60% of Australians hold investments outside their pensions and the number of young investors is surging. Rates of investment from 25 to 34-year-olds grew from 24% to 39%. But while young Australians are getting into investing, they aren’t thinking about gold. In fact, the 25-34 age group is the least likely to have thought about physical gold (54% according to the survey.)

So, why haven’t more Australians considered gold? ABC Bullion speculates that one reason is mainstream advisors tend to minimize its value in a portfolio.

The ASX Survey went on to show that 60% of investors use some form of financial advice. Unfortunately, many institutional investors and financial intermediaries tend to dismiss gold as an investment, focusing on the fact that it doesn’t produce an income, and that in the short term, the gold price is volatile (much like the share market is).”

Of course, depending solely on mainstream analysts to guide your investing decisions might not be the wisest ideas. As we reported last month, monkeys actually do a better job predicting markets than mainstream pundits.

Australia has had a booming housing market over the last two decades and did not suffer the same kind of real estate crash during the Great Recession as the US market did. As the Australian survey noted, “Had the Australian property market had a crash like the US property market had, and if interest rates had been cut to zero locally, like they have been in the US, Europe and Japan, then we would expect gold demand to be higher in Australia.”

According to the survey, Aussies tend to miss one of the most fundamental investing concepts.

Regardless of why some Australians ‘never thought about it’ when it comes to gold, the real issue for Australians is a basic lack of understanding of one of the most universally-accepted components of financial strategy: diversification. The point is not that gold should supplant housing or shares, but that gold should complement other investments. It simply has too much to offer as an inflation hedge, safe-haven investment and historical store of wealth to be sidelined in the investment conversation.”

While this survey focuses on Australian investors, it likely reflects attitudes in the United States as well. Have you considered investing in gold? If not, you really should. At least take some time to talk to a SchiffGold precious metals specialist and find out more about the benefits of holding physical gold (and silver) in your portfolio. Call 1-888-GOLD-160.

WhyBuyGoldNowBanner.070815.590

Get Peter Schiff’s latest gold market analysis – click here for a free subscription to his exclusive monthly Gold Videocast.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

Subprime Credit Card Charge-Offs Remain at Great Recession-Era Levels Despite “Booming” Economy

Last week we highlighted the rising level of auto loan delinquencies and the growing number of student loan borrowers who can’t make their payments. This week, we got some more bad news for lenders. Subprime credit card charge-offs remain at levels reminiscent of the Great Recession. In the first quarter of this year, credit card […]

READ MORE →

Texas Takes Another Step to Facilitate the Use of Its Gold Bullion Depository

Texas continues to take steps to make the state more friendly to gold and silver. Earlier this week, the Texas Senate gave final approval to a pair of bills that that would exempt precious metals stored in the Texas Bullion Depository from certain taxes. By repealing taxes on gold and silver, the state will treat […]

READ MORE →

Nope! Nothing to See Here!

Don’t worry. Nothing to see here! That was pretty much the message Federal Reserve Chairman Jerome Powell delivered in a speech he gave at the Atlanta Federal Reserve bank conference on May 20. Powell talked about the high levels of corporate debt. In fact, corporate leverage is at a record level of around 35% of […]

READ MORE →

China Sells Most US Treasuries in 2-1/2 Years Amid Threats of ‘Nuclear Option’

China sold off the highest level of US Treasurys in nearly 2-1/2 years in March. Meanwhile, there are renewed fears the Chinese could implement its “nuclear options” and sell off even more US debt in retaliation for US trade war tariffs. China sold $20.45 billion in Treasuries in March. That was the biggest US debt […]

READ MORE →

Auto Loan Delinquencies Approaching Great Recession Peak

a check engine light is onAuto loan delinquencies have surged to the highest level since 2011 and are approaching levels seen at their peak during the Great Recession. The percentage of outstanding auto loans in serious delinquency (90 days or more past due) jumped to 4.69% in the first quarter of 2019, according to the latest data from the New […]

READ MORE →

Comments are closed.

Call Now