(Kitco News) – After an unprecedented rally that has seen gold prices outperform virtually every major investment vehicle, the yellow metal can now add another feather in its cap: Gold has surpassed stocks for second place as the best long-term investment in the United States, trailing only real estate.
According to the latest Gallup poll, Americans' belief in the security of stocks has taken a hit during the second Trump term, while gold’s appeal has only grown, causing the two asset classes to trade places. 23% of Americans surveyed now say gold is the best long-term investment, up five points from 2024, while only 16% choose stocks, a drop of six points from last year’s results.
37% of respondents say real estate is the best long-term investment, unchanged from last year and the 12th year straight that property takes first place in the annual poll.
Rounding out the results, “13% of Americans think savings accounts or CDs are the best option for long-term returns, while 5% favor bonds, and 4% prefer cryptocurrency,” the report said, all more or less in line with last year’s poll results.
While gold is likely to continue to gain popularity if bullion prices stay on their upward trajectory, the negative feeling toward stocks may prove to be a one-off. Gallup conducted the poll from April 1-14, a period that coincided with peak anxiety over the Trump administration’s April 2 tariff announcement, which was followed by dramatic declines in stock valuations.
Even though real estate enjoys a 14% lead over gold this year, history shows that the yellow metal can still come in at number one. Gold actually ranked as the top long-term investment in 2011 and 2012 before real estate rose to tie it in 2013. Real estate has since taken the top place every year since 2014, with between 30% and 45% of Americans choosing it.
The high-water mark for gold in the Gallup poll was 34%, a level it achieved in 2011. This coincided with the aftermath of the Great Recession, a period when “investors sought safe assets amid high unemployment, a depressed housing market and volatility in financial markets,” the report said. “Americans’ choice of stocks or mutual funds as the best investment has historically fallen during periods of market volatility.”
While the 2025 poll showed investors at all income levels chose real estate as the best long-term investment, it also found that lower-income Americans are more likely to favor safer investments.
“Adults earning $100,000 or more are the most likely income group to favor stocks, while those with lower incomes are more likely than others to choose safer or more tangible options like gold and savings accounts,” the report noted. “Similar patterns by income group have been evident in recent years.”
Gallup also asked Americans how worried they are about nine financial issues, and nearly three in 10 Americans, 29%, said inflation or the high cost of living is the most significant financial challenge they face today, down from 41% last year and 35% in 2023. The 2025 reading still far exceeds the levels measured before inflation began to spike in 2021.
“Americans appear to be following economic news — including tariffs and market swings — and adjusting their perceptions of investment risk accordingly,” the report concluded. “Real estate continues to be named the best long-term investment, while stocks have fallen amid recent market volatility and gold has picked up much of that decline.”
They added that while stock ownership appears to be holding steady, “history suggests that investors may change their investment strategy if the economy remains volatile.”
