Eric Sepanek
SBC Founder
Eric Sepanek is the founder of Scottsdale Bullion & Coin, established in 2011. With extensive experience in the precious metals industry, he is dedicated to educating Americans on the wealth preservation power of gold and silver.
Contrary to popular belief, gold may be more popular among younger investors than their older counterparts. Multiple studies—from Bank of America, State Street Global Advisors, and other respected institutions—highlight a growing trend of Gen Z and Millennial investors embracing gold as a core part of their portfolios.
These younger demographics are often outpacing Gen X and Boomers in terms of gold ownership, interest, and portfolio allocation. Their top motivations include using gold as a hedge against economic downturns, valuing its tangibility and security, and harboring a growing skepticism toward legacy financial systems.
Younger Generations Are Flocking to Gold
There’s a common misconception that gold is a relic, an asset favored by older generations who are holding onto the past, skeptical of digital technologies, and dismissive of modern assets. In reality, nearly all available statistics show the exact opposite.
Gold is a rising star among younger generations of investors as interest, ownership, and portfolio allocation surge, even outpacing those of older cohorts.
Ownership Is Climbing Fast
Gen Z: Up to 16% of Gen Zers currently own gold, whether in physical or paper assets, a notable increase from previous years. Some precious metals dealers report that investors aged 20 to 39 now account for one-third of all gold sales. Additionally, more than 31% of Gen Z has already inherited gold or silver, and the average investment in precious metals among this group is $2,264.
Millennials: Millennials are leading the gold ownership trend, with 60% including gold in their portfolios. Among high-net-worth Millennials, that figure rises slightly to 61%.
Older Generations: Gold ownership among the older falls somewhere in between. Approximately 35% of Gen X owns gold, compared to just 20% of Boomers.
Interest in Gold Is Surging
Gen Z: Between 36% and 56% say they plan to invest in gold soon. One major gold trading platform reported that 1 in 6 new accounts last year were opened by Gen Z investors (ages 17–27), up from just 12.8% a decade ago. Additionally, 15% of Gen Z plan to purchase physical gold bars, coins, or ingots within the next year.
Millennials: Millennials are taking a proactive approach to gold investing. A striking 93% of wealthy Millennials plan to increase their allocation to alternative assets, including gold. And more than 90% have already discussed gold with a financial advisor, highlighting a growing emphasis on diversification and long-term security.
Older Generations: Investors older than 44 allocate just 5% of their portfolios to alternative assets like gold, far below the 17% allocation seen in younger generations. Only 28% of older investors believe traditional stocks and bonds can no longer deliver above-average returns, suggesting less urgency to diversify.
Allocations Are Rising
Gen Z & Millennials: Among Millennials, the average gold allocation jumped from 17% in 2023 to 29% in 2024, nearly doubling in just 15 months. Across Gen Z and Millennial investors, alternative assets, including gold, now make up an average of 17% of their portfolios, compared to just 5% for older generations.
Older Generations: In contrast, older investors continue to keep their gold allocations relatively modest. On average, Gen X allocates around 13% of their portfolios to gold, while Boomers allocate just 10%.
Why Younger Generations Are Turning to Gold
Hedging Against Inflation & Economic Shocks
Younger generations have been investing against a backdrop of routine financial shocks, including the 2008 recession, the COVID-19 pandemic, and the current cost-of-living crisis.
These frantic economic periods have impressed upon Gen Zers and Millennials the importance of safe-haven assets to keep pace with inflation and protect against currency devaluation.
42% of Gen Z cited hedging against inflation as their main reason for investing in gold. More than 55% of Gen Z are worried about inflation’s long-term impact on their investments.
Tangibility & Security
Despite growing up alongside the rise of cryptocurrency and digital tokens, many young investors are turning to physical gold specifically for its tangible nature and inherent value.
One-third of Gen Z cited gold’s physicality as a motivating factor. Nearly half of both Gen Zers and Millennials said security and tangibility were key drivers behind their gold purchases.
Mistrust of Traditional Financial Systems
In addition to living through multiple economic crises, young investors have witnessed serious systemic failures—from the housing market collapse to regional bank failures and high-profile crypto scams.
As a result, 72% of investors under 43 no longer believe that traditional assets like stocks and bonds can deliver above-average returns. More tellingly, 29% of Gen Z say they trust gold more than traditional investments, signaling a broader shift in what younger generations view as reliable.