“Millennials are hoarding more gold than boomers and Gen X-ers as recession risks loom, State Street says”
July 21, 2023
“…Millennials are the biggest investors in gold, beating baby boomers and Gen X-ers by a big margin, according to a report from State Street, which cites the findings of a survey by SPDR ETFs.
“On average, millennials have a higher allocation to gold at 17%, with boomers and Gen X lagging behind at just 10%. And millennials reported a greater appreciation for the convenience of investing in gold through exchange traded funds (ETFs),” George Milling-Stanley, chief gold strategist at State Street, wrote in a report…
As much as 88% of the survey respondents who currently have gold holdings believe the metal is a long-term investment, according to the asset manager. And more than 70% said investing in gold helped improve the performance of their overall portfolios, it added…”
https://finance.yahoo.com/news/millennials-hoarding-more-gold-boomers-181301840.html
Really its better to have the physical gold but its better than nothing. I guess the real question is what group owns the most physical gold.