Americans say gold is better investment than stocks for first time since 2013

More Americans view gold as a better long-term investment than stocks for the first time since 2013, according to a recent survey from Gallup.

"One reason to expect higher equity prices [is] that the masses keep betting on lower prices. This matters as the crowd is rarely right looking back at history," Detrick said inAccording to the survey, 26% of Americans view gold as the best long-term investment, which is a near double from its level of 15% in 2022. Meanwhile, Americans that view stocks as the best long-term investment fell to 18% this year from 25% last year, representing its lowest level since 2011.

For one, the Federal Reserve is likely on the verge of wrapping up its rate hike campaign as inflation continues to cool. Fed Funds Futuresthat the central bank opts not to hike interest rates at its June FOMC meeting.

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