Recommendations for how much gold you should keep in your portfolio vary. As for gold, silver and other precious metals, financial blogger Len Penzo points out that many experts recommend keeping 10 to 20 percent of your net worth (excluding home equity) in precious metals. A new survey highlights what the average American thinks about the ownership of precious metals. According to the survey results, a combined 10.8% of Americans own gold, while a combined 11.6% own silver.
For those looking to invest in physical gold, a Physical Gold IRA is an attractive option. However, buyers should keep in mind that only a few, aware of mutual finances that focus solely on gold who make an investment, most own different commodities. The current dilemma of unprecedented uncertainty caused by the global COVID-19 pandemic may have made U.S. investors much more risk-averse than previously thought, even when considering an asset such as gold, which has normally been considered a hedge against economic turmoil.
Gold IraGuide, a consolidated publication that provides investors and retirees with all the relevant information about investing in precious metals, launched the survey.
Given the current economic uncertainties surrounding the global pandemic, Millennial investors seem to be turning specifically to historical hedges, such as gold and silver, rather than older investors. In addition, the fact that more Americans own silver instead of gold is intriguing, said Amine Rahal, executive director of the Gold IRA Guide. Based on the results of the survey, when asked if they owned gold or silver, 84% of those surveyed indicated that they were not owners either.