2025 Gold Investment Survey: 59% Show Higher Interest in Gold After Seeing the Numbers

If you’re seeking diversity and stability in your investments, you might be asking, “Is investing in gold a good idea?”

Despite gold’s long history, there are quite a few misconceptions surrounding this metal’s track record. For example, many potential investors aren’t sure how gold really performs, and only view it much more favorably when they see real-life numbers.

In LendEDU’s 2025 survey, we aimed to learn what motivates people to invest in gold, what may hold them back, and how perceptions differ between generations.

Table of Contents

1. 1. 89% worry about inflation’s impact on their investments
2. 2. Investors seek gold for protection and diversification
3. 3. Many potential investors don’t know how gold performs
4. 4. Self-storage remains the most popular method of gold investment
5. 5. Many investors prefer to start small
6. 6. Scams and high minimum thresholds turn investors off
7. Actionable takeaways
8. Methodology

1. 89% worry about inflation’s impact on their investments

When asked, “Which of the following events are you concerned will affect your savings or investments?” (Q13), inflation, economic depression, and rising commodity prices take the lead, cited by 89%, 85%, and 81% of respondents, respectively.

That’s hardly surprising, but an analysis by generation reveals some important differences in investment-related concerns among age groups.

Baby boomers worry more about economic depression

Economic depression was the top-ranking apprehension among Baby Boomers, with 90% of Boomers stating it as a concern. This makes sense considering that Boomers have lived through past crises, like the 1970s stagflation and the 1980s recession, which younger investors don’t remember and may be less aware of.

Moreover, Baby Boomers are closer to retirement age or already retired, so a potential depression is likelier to impact them directly. If they invest in gold, they’d have less time to gain from its appreciation in value before they begin withdrawing from their retirement accounts.

This aligns with another finding from our survey: Boomers are the generation least interested in gold investment—37.50% of Boomers reported no interest in gold, vs. only 16.56% of Millennials (Q6).

Millennials and Gen Z worry about rising commodity prices

Rising commodity prices are a major concern for 82% of millennials and nearly 85% of Gen Z. Younger people typically have lower financial reserves and thus tend to struggle when food, fuel, and other essentials become more expensive. Many deal with restricted cash flow due to raising or planning families, buying a house, or paying off student loans.

Despite these limitations, Millennials lead in physical gold ownership (16.56%), Gold IRAs (9.20%), and ETFs or mining stocks (17.18%). That may be because younger investors are more financially and technologically savvy, and less trusting of government-backed systems like Social Security.

2. Investors seek gold for protection and diversification

Echoing common financial concerns, nearly 30% of those already interested in gold cite “protection against inflation and currency devaluation” as a chief motivator. (Q7) Other common appeals of gold investment are diversification (18%), independence from governments and companies (16%), and holding a safe-haven asset during market turmoil (15%).

Here, too, it appears that driving forces differ between generations.

Baby Boomers view gold primarily as a hedge asset

Nearly 39% of Boomers value gold for its inflation resistance (Q7), highlighting a defensive approach that strives to preserve wealth during tough times. Predictably, older investors prioritize stability and security over high returns during their golden years.

For this generation, which has lived through several recessions, gold is more than a commodity. It’s an asset that anchors wealth during national and global turmoil, protects savings during soaring inflation, and hedges against market instability.

Millennials aim for a balanced portfolio

In contrast, more Millennials appreciate gold as a diversifier. A quarter of this age bracket, the highest number of all generations, has cited diversification as their primary reason for their interest in gold (Q7).

This suggests a proactive, strategic mindset that aims to build wealth, not just defend assets from devaluation. Millennials still have decades before their retirement and are thus prioritizing growth-oriented, balanced investment portfolios that can generate returns while resisting volatility.

Many Millennials are likewise cautious investors, having lived through economic downfalls like the dot-com bubble burst, the 2007-2009 recession, and the COVID-19 pandemic. However, better access to financial education and digital investing platforms may help them feel more comfortable with a broader range of assets.

3. Many potential investors don’t know how gold performs

Considering gold’s popularity, surprisingly few respondents had a clear picture of its performance as an investment asset. For example, nearly 37% wrongly believed that gold has delivered a higher return than stocks (about 10%) during the past 20 years. Only about 13% accurately stated that gold has performed less well than stocks but better than real estate. (Q1)

Around 1/3 of respondents “have no idea” how gold performs as an investment

When asked to estimate gold’s average annual return over the past two decades, 32% of respondents stated they have “no idea.” (Q2) 36% gave the same response about gold’s performance in comparison to stocks, bonds, and real estate (Q1). 20% have also said they “don’t follow forecasts” when asked about the projected price of gold in 2030 (Q3).

All this underlines a general lack of awareness that could either hold investors back from adding gold to their portfolios or prompt them to make wrong decisions about purchasing precious metals.

Almost 60% view gold more favorably after seeing the numbers

After learning gold’s correct average annual return (7.8%) and its projected price per ounce by 2030 (around $5,000), a definite majority (59%) said they now have a more favorable perception of gold, and only around 3% expressed disappointment. (Q4)

These findings suggest that, with better financial education, more people might choose to add gold to their investment portfolios.

4. Self-storage remains the most popular method of gold investment

When we asked those interested in gold which investment method they feel most comfortable with, buying bullion for self-storage was the most popular answer (29%). (Q8) This preference is even stronger among Boomers (38%). In contrast, only 27% of Gen Z respondents, the lowest number among all groups, felt comfortable with buying and storing gold bullion.

While many people who buy gold like to know that their bullion is nearby and instantly accessible, this approach misses out on important tax advantages, since home storage isn’t acceptable for gold IRAs.

25% of respondents aren’t aware of the differences between physical and paper gold

Furthermore, a quarter of respondents stated that they aren’t sure about the differences between gold bullion, gold ETFs, and gold IRAs. (Q8) The number was even higher among Gen X (31%).

This further stresses that investors need clear, targeted education to make informed decisions about gold.

Gold IRA is still a niche investment method

One of the most striking findings in this section was the respondents’ view of gold IRAs. Less than 3% stated self-directed IRAs were their preferred gold investment method (Q8), despite the tax advantages and convenient structure of gold IRAs.

One likely reason is the entry barriers of many precious metal IRAs. Minimum investment thresholds hover between $5,000 and $25,000, which may be too high for beginner investors. Setup, storage, and custodial fees may likewise place gold IRAs in a “for rich people only” category. Finally, many potential investors may simply be unsure how gold IRAs work or what tax benefits they offer.

5. Many investors prefer to start small

Our survey data suggests that cost is a major hurdle to gold investment. Over 38% of respondents said their ideal gold investment amount is under $5,000. (Q10)

When asked, “What would most increase your trust in gold investing?” the top factor was “Ability to start with a small amount ($500 or less).” (Q12)

Anecdotally, in response to “What is your biggest hesitation or concern about investing in gold?“ several freeform answers were some variation of “I don’t have extra money to invest.” (Q11)

What does this mean in practice?

Based on these trends, it appears that many people who are interested in gold but don’t own any yet might take the leap if given a safe, structured option to purchase gold on a small scale.

Hesitant investors may prefer to test the waters by buying a limited amount of metal and watching how it performs for a period before funneling bigger sums into gold. Low-barrier investment platforms could shift the perception of gold as an asset for the wealthy only.

6. Scams and high minimum thresholds turn investors off

Nearly half of the participants (47.83%) said they don’t currently invest in gold but are interested. For Gen X, this number was even higher (51.30%). (Q5) That points to a huge number of potential investors who hold back from adding gold to their portfolios.

Investors worry about gold scams

Over 21% of respondents cited getting scammed as their biggest concern about gold investment. (Q11)

This isn’t a far-fetched worry – federal authorities warn citizens against precious metal scams, which often target retirement savings. Many times, victims are vulnerable seniors like the Indiana widower who lost $80k to a fraudulent gold investment setup.

Of course, this doesn’t mean gold investment is inherently risky. There are many reputable, established gold companies out there. However, beginner investors may feel unsure about how to tell legitimate offers from fake ones.

High minimum thresholds and hidden fees hold investors back from gold companies.

Even when a gold company is unquestionably legitimate, high investment thresholds, confusing terms, and high fees can deter potential investors.

High minimum investment is the biggest concern for Baby Boomers

One-third of Baby Boomers mention high minimum investments as the chief factor that would make them hesitate to work with a gold company. For older, cautious investors, high upfront costs could feel riskier, and they may prefer traditional investment setups with more flexible thresholds.

Gen X and Millennials worry more about hidden or confusing fees

Meanwhile, hidden or confusing fees could be a deal breaker for younger investors: 27% of Gen Xers and 31% of Millennials list this as a main concern. These generations tend to be better at comparing digital platforms, so they want to make sure they’re getting the best deal possible when investing in gold.   

As a side note, even reputable gold companies often don’t list fees clearly on their websites. Beginner investors may not understand terms like “spread” or “markup,” or struggle to find a concise summary of the company’s fee structure. Sometimes, reaching out directly is the only way to get thorough and transparent information.

Actionable takeaways

As our survey shows, interest in gold grows when investors understand its long-term performance and have easy access to low-threshold options.

Would you like to invest in gold but aren’t sure where to begin? Start small.

Do your homework and research trustworthy gold companies with solid reviews, competitive, transparent terms, and a reputation for excellent customer service.

If you’re ready to scale up, consider working with a professional advisor who can help you decide whether gold bullion, paper gold (like mining stocks or ETFs), or a combination of both is the right fit for you

Methodology

The 2025 Gold Investment Survey, conducted on May 23, 2025, sampled 600 U.S. adults through an online third-party survey platform to assess public perceptions, behaviors, and concerns related to gold investing.

The survey was fielded using Random Device Engagement (RDE) technology, which recruited respondents as they browsed across mobile apps and web environments. This technique minimized selection bias and helped ensure a diverse sample across digital channels and device types.

To ensure demographic balance, the survey applied a stratified random sampling framework based on variables such as age, income, education level, credit score, and geographic region. Within each stratum, respondents were randomly selected, ensuring representative coverage of key U.S. demographic groups. The final sample of 600 completed responses allowed for broad generalizability and minimized sampling error.

Participants answered a range of question types, including:

• Single-select (e.g., expected return of gold, biggest concerns)
• Multi-select (e.g., past experience with gold investing)
• Matrix-style response grids (e.g., comfort with various investment vehicles and amounts)
• Open-ended questions (e.g., individual views and emotional reactions to gold investing)

These questions were designed to capture both quantitative trends and qualitative sentiment across a range of gold investment topics — including perceptions of gold’s historical returns, price forecasts, interest in different investing methods (physical gold, IRAs, ETFs), and barriers to entry such as affordability, risk, and trust.

Analytical methods included the use of descriptive statistics, cross-tabulation by stratified groups, and synthesis of open-ended responses to highlight common themes and divergent attitudes. No post-stratification weighting was applied.

Given the sample size of 600 respondents, the calculated margin of error at a 95% confidence level is approximately ±4.0%, based on the standard formula: MOE = z × √[ p(1 – p) / n ]

Where:

• z = 1.96 (for 95% confidence)
• p = 0.5 (maximum variability)
• n = 600 (sample size)