Millennials join the gold rush as older generations hold the heaviest stacks

Although younger demographics like Millennials and Gen Z are increasingly stacking precious metals, investors in their 40s, 50s, and beyond tend to hold larger gold and silver allocations due to peak earning years, a focus on wealth preservation, and the need to hedge against economic volatility closer to retirement.

There are multiple reasons for this. First, people in these demographics have had more time in their careers to gain solid financial footing, so they have more money to maximize. People in these age groups are also focusing on wealth preservation and want to add alternative assets to their savings; precious metals are stable, long-term assets with a history of holding onto their relative buying power. Also, precious metals meet the need to hedge against economic volatility—an issue that can become more concerning when one approaches retirement age.

So why are younger investors taking a shine to precious metals too? Gold and silver prices are consistently hitting all-time highs—an attractive selling point for those just beginning to save. Also, many are skeptical of traditional financial institutions, and the younger generation is comfortable navigating online financial opportunities and are open to new (to them) sources for saving.