Gold is one of the most popular investments in the world. It is also one of the most misunderstood. How much gold does the average person own?
The answer may surprise you. According to a World Gold Council survey, the average person’s gold holdings are just 1 gram. That’s about enough to make a small pair of earrings.
Of course, some people own a lot more than that. But even among those with significant gold holdings, most own less than 1 ounce (28 grams).
Why do people invest in gold? There are several reasons. For some, it’s a hedge against inflation and economic uncertainty. For others, it’s a way to diversify their investment portfolio. And for many, it’s simply because they enjoy owning something with intrinsic value.
Whatever the reason, there’s no doubt that gold is here to stay as one of the world’s most popular investments.
How Much Gold the Average Person Owns
The median savings for households with any gold was $500, but extreme outliers heavily skew this average number. The top 10% of respondents reported owning $50,000 or more in gold holdings, while the bottom 90% reported owning $1,000 or less.
Assuming that each household member owns an equal share of the family’s total gold holdings, the data suggests that the average American owns just 0.48 ounces of gold. This is worth about $768 at today’s prices.
Factors Affecting How Much Gold a Person Owns
How much gold does the average person own? This is a difficult question to answer due to the many factors that can affect how much gold a person owns. Some of the main factors that can affect how much gold a person owns include:
-The country they live in
-Their economic situation
-Their personal preferences
Let’s take a closer look at each of these factors to see how they can affect how much gold a person owns.
The country they live in: Countries with a higher GDP per capita tend to have residents that own more gold. This is because residents of these countries generally have more disposable income, which they can use to purchase gold. For example, residents of Switzerland, which has one of the world’s highest GDP per capita levels, tend to own more gold than residents of other countries.
Their economic situation: Individuals who are employed and have a steady income are more likely to own gold than those who are unemployed or have an unstable income. This is because individuals with a steady income can purchase and hold onto gold, while those with an unstable income may need to sell their gold to meet their financial obligations.
Personal preferences: Some people prefer owning gold to other investments, such as stocks or real estate. Others may view gold as a hedge against inflation or economic crisis. And still, others may believe that owning gold will help them become financially independent. Whatever the reason, personal preferences greatly influence how much gold an individual owns.
Conclusion
The gold ownership statistics for different countries are interesting to compare. The World Gold Council’s annual report states that the average person in India owns 2.6 grams of gold, while the average person in China owns 0.5 grams. In the United States, the average person owns around 8 grams of gold, although this number is likely much higher for those who invest in gold regularly.
