Why do older people like investing in Gold/Silver?

[alfs75]

I'm not one who would invest in precious metals, but I have noticed that a good amount of the older generations are pretty keen in investing in these metals. They see it as a way to bet against the market, and a security that will always be safe -- even in the times of a market downturn/country failure as a whole.

I personally wouldn't even want to buy these metals in those events, as I don't see the reason to. I'd rather invest in securities that go up when the market shits itself (Payroll lending companies and so on and so forth)

Does anyone here know the reason behind people loving precious metals?

Actualy im not so much expert and know the main reason why the older generation much love the precious things like silver or gold ,because in my own thought  the value and the shining of gold /silver can attract more people and  can define you on whats is your status in the society if you have own this kind of wealth,thats why more people want this kind of wealth compare to the crypto coins ,its only digital figures cannot seen by many.

[dreico]

because for gold or silver, reliability and trust have already settled, which has been improving throughout the history of people

[Sum24]

A reliable and time-tested way of investing

What are you talking about bitcoin or gold but I think it is not good or easy way to get money from gold or silver, we should invest in what we are good as we are living in modern age so we should invest at the moment in bitcoin only, it has more benefits than any other investment, old people have not enough information about bitcoin so they are agree to invest in gold only, but if we will guide them about bitcoin I am sure they will only like bitcoin to invest their saving.

[Wayan_Pedjeng]

Older people remember the days of hyperinflation. Now situation is normal in most of the countries, but during the 1980s and 1990s, inflation rates of 20% or higher were common in most of the third world nations. Bullion was one of the few assets which were protected against this inflation back then.

[LyQaN]

We all know that gold and silver are being used from quite a long time and crypto's got popular from last few years.So may be for them gold and silver are more trustworthy and safe.Trustworthy because they are using gold/silver for investments from many years and safe because price is steady and not many fluctuations are seen in their price.

[Combi]

I am not an expert in this case I only issued my opinion as an initial person in this case, in my opinion, the public generally likes gold or silver because of its value, both people like gold or silver because of their lifestyle, third they like it for long-term investment

[nisya]

older people only know traditional investment and they think that gold is very safe for them so they like investing in gold and silver. besides that, they can see the physical form of gold and silver and they can use a deposit box to save the gold and the silver. but if they know that besides gold and silver, there is a new investment like cryptocurrency, I think they can try to invest their money with various coins in the cryptocurrency.

[alizalela7]

They like to invest in gold and silver because they find that gold has precious properties and they like gold reserves they hope gold will bring them much profit.

[Leyss]

Older people are really more inclined to invest their money in gold and silver. than to include them in banks, securities and so on. Simply, on the one hand, they were often deceived by the state with their monetary reefs, as a result of which money simply depreciated or old money could not be exchanged for new ones. There have also been many fraudulent state and non-state structures that deceived the people. Money depreciated during the military operations and only gold and silver had always been valuable.
On the other hand, older people do not fully understand the securities, shares, other financial inventions of mankind, especially in crypto currency. 

[Exclusives]

Gold is easily moved or stored anywhere if you think the place is safe, profitable gold every year has a relatively stable additional value. The decline in gold prices is rare, has low maintenance costs or is almost non-existent because you just have to keep it in a safe place at home.

Older people always think about this.
When you save at a bank, of course there are other costs such as administration fees or money transfer fees. from another bank account, this fee slowly erodes your money, especially if the interest earned is not as high as the administration fee.

[lonzoball0]

Everyone is interested in investing in Gold / Silver because of Inflation! More specifically, the purchasing power of the currency is declining. Indeed, that is the best, most authentic reason to explain that people buy gold/silver. As inflation increases, monetary value will decrease. In the long run, almost all major currencies are down against the price of gold. Therefore, people tend to keep their money in gold/ silver.

[bummm]

because for gold or silver, reliability and trust have already settled, which has been improving throughout the history of people

Yes, true. Gold can live for millions of years - nothing will happen with this metal. Today, these people also invest in platinum as they know precious metals will be always in price.

[best ever]

Older people prefer investing in gold because they trust gold more than bitcoin and they might not understand  about bitcoin and don't want to be too bothered with the rules and risks

They do associate the precious metals with stability. The money used to change all the time but gold and silver were always in demand. Therefore, they might not understand the cryptos.

[frankiemalton]

Gold is an asset that central banks will increasingly use to shore up confidence in increasingly debased and volatile fiat currencies as excessively loose monetary and fiscal policies which may cause monetary instability.

[Belmyl]

Simple; it is not riskful, they can get physical matter in their hands and gold and silver is a part of vanity and wealth.

They do really love gold investments because they believe that they can leave their gold to their children after their death and this is a good physiologic relaxing.

[Vsamuel]

I grand daddy once told me that, investing in Gold and Silver is both reliable and very lucrative. If you are smart, you can withstand any form of scam presented to you when dealing in God and Silver. Unlike crypto, where you can not even see the individual you dealing with, the level of trust is very small.

[hibiscus]

The older people are usually investing to the precious metals like gold and silver because in the olden days its market price were stable and it could attract  the confidence of the business community .In the olden days precious metals price was not fluctuating like the crypto market. Bitcoin or the crypto currency is incorporated with  the modern technology it is very difficult to understand  for the older people to operate. In such a situation the older people  will prefer to invest in gold and silver.

[Michi_]

I think they invest in gold and precious metals because it is a physical object that they can hold and store where they could see them. The feeling of actually holding something and knowing that it worths a lot could help them feel secured about their wealth. Unlike in cryptocurrencies which is virtual and that they couldn't physically touch it. Also, I do agree that because technology is new to them, they wouldn't trust it easily and invest their money and time in it immediately, so they stick with the old ways and beliefs about how and where they will invest their money.

[katrimans]

Because they take decision according to risk-wise. That's why they are more likely invest in gold or silver instead of cryptocurrency.

This dates back to the era of gold smiths who earned great wealth in gold and silver. The precious metals were also accumulated by the UK in the ear of mercantilist.

It was thought that a country can become rich by holding the maximum amount of gold and silver. The older people have this very same concept and the other reason is that they have been trading and earning in this business since the start of their business so they know all about the market and the risks that can be possibly countered.

[MickyDonald]

 think investors love precious metals for a variety of reasons. As a source of return in the portfolio, there is hardly much difference between gold and other important assets. Even if the economy is growing as well as weakening, it is a convenient asset such as cash or other types of financial collateral that always have the effect of minimizing risk in the portfolio.