Millennials will become the largest generation this year, even surpassing the Baby Boomers, which makes them the next target demographic for the precious metals market. But, how do millennials feel about gold and why are they not investing more?
It is not due to gold’s lack of shine that has millennials looking away from the precious metal as a viable investment option, according to analysts, who instead point to lack of excess capital, describing an investment in the precious metal as a luxury for the younger generation.
Why Gold Is Attractive
Gold can make a very attractive investment for millennials, especially considering that some of them lost some money in the crypto craze, analysts said.
One of the important pro-gold arguments is that the precious metal has a long history of preserving wealth.
“They need to know that gold is an asset class that is nobody’s liability, unlike pretty much anything else, and it stands the test of time. And since they are young, almost by definition, the implication is that they need some stabilising asset class in their portfolios over the long-term to preserve wealth and keep stability,” Melek said.
Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana. The Company also has a small gold mining and exploration portfolio in Kenya, Ghana and Burkina Faso.
