16% of Gen Z own gold – Experts reveal why investment in the precious metal is surging

Research has suggested that up to 16% of Gen Zers own gold, while some gold companies have seen the number of people in the Gen Z generation owning the precious metal more than double in a year.

With this in mind, Rik Kanda, Managing Director at The Gold Bullion Company, has shared the following on why gold ownership is surging amongst Gen Zers:

“For years gone by, pensions and high street savings accounts have been amongst the most favoured investment options, but according to recent research, it would appear that opinions are starting to change, especially amongst the younger generations.”

“The number of Gen Zers owning gold is on the rise, which may come as a surprise to many people, but for a generation which has lived through the 2008 crisis, fluctuations in inflation rates and the pandemic, it’s easy to understand why many younger Brits are turning to gold to help diversify their investment portfolios.”

“Over the past decade, Brits have been faced with fluctuating inflation rates, which have played their part in gold prices hitting record highs. As the cost of living continues to squeeze the finances of Brits and gold’s value has risen, Gen Z are looking to create a financially stable future, which is why gold is an attractive asset”

“It has been reported that around 45-50% of Gen Z don’t have a workplace pension, as many feel more sceptical towards this investment option compared to older generations. With gold offering independence from government-supported systems such as workplace pensions, investment in gold is now increasing in popularity.”

“A final point to make is how accessible gold is to invest in. A surge in gold ownership amongst Gen Z is no surprise to industry experts, as the option to purchase the precious metal online has never been so easy, and storage options are abundant. Whether you’re investing in gold bars or coins, secure storage is readily available, providing peace of mind to investors.”