Gold is replacing stocks as the most popular form of investment. At present, 31 per cent of Germans are convinced that the price of the precious metal will outperform all other asset classes over the next three years.
This emerges from a new infographic of Kryptoszene.de. Shares are the second most popular, with 25 per cent regarding the asset class as a safer investment. Last year it was the other way round.
As the infographics show, answers depended largely on level of education. Faith in gold was highest among those with a vocational diploma. Here, 36 per cent stated that they expect the price of the precious metal to rise the most. Among respondents with a university degree or high school diploma, the figure was only 22 per cent.
Meanwhile, Google analyses show that search queries for gold are rising sharply. Never since records began have more people searched for gold than in 2020.
Analysts at large financial and monetary institutions also expect gold prices to rise. Only 16 per cent of experts at large banks such as Citigroup, JP Morgan, or LBBW forecast falling prices. According to analysis by Bank of America, the price of the precious metal could even rise by up to 75 per cent to $3,000 over the coming months.
“Current trends illustrate that gold is indeed serving as a crisis currency,” observes cryptoscene analyst Raphael Lulay. “Despite the latest rise, there still seems to be much to suggest that the gold rally has not yet come to an end.”
