Young Brits prefer gold over stocks for investment

A recent poll shows that many young people in Britain are turning away from traditional investments like stocks. Instead, they are favoring collectibles and commodities, especially gold. The survey gathered insights from 1,000 Gen Z and Millennials. According to the poll, 52% of respondents are looking for alternative investments. Popular choices included luxury handbags at 20%, cryptocurrency at 32%, and sports memorabilia at 20%. The survey highlights a growing belief that unconventional assets could lead to higher returns. When it comes to gold, 40% of participants view it as a solid investment for the future. Another 32% believe that cryptocurrency remains a worthwhile bet. The study was conducted by IRN-BRU, which is running a campaign featuring a giant 18-carat golden girder, dubbed the ‘One Inch Wonder’, worth £10,000. In a fun promotion, IRN-BRU hung a massive golden girder alongside a busy motorway in Scotland. The girder carried a playful message: "Size doesn’t matter, it’s what you do with it that counts." Kenny Nicholson from IRN-BRU noted that young Brits are more interested in investing in what they love, such as trainers and watches, rather than conventional finance. The poll also found that 16% of young people have already invested in gold, while 56% plan to do so soon. This comes in contrast to just 28% investing in cryptocurrencies. Many young investors, 49%, feel they are better at growing their wealth compared to older generations. They attribute this to being tech-savvy and having access to more financial information online. However, the survey also indicated that 59% of them regret missing out on past investment opportunities, with cryptocurrencies and gold being the top wishes. Finally, if given a windfall, 39% of young Brits would choose to invest it for long-term growth, while 15% would cash out immediately. Experts believe the value of IRN-BRU's gold girders could double by 2040 if gold prices continue to rise, creating excitement among collectors.