Gold-Colored Glasses

BY: ETHAN LOHR, CFP® — February 2026  

It doesn’t happen often that a 15-year-old and a 75-year-old are talking about the same investment.

 Usually, it’s the younger generation buzzing about the latest high-flying stock, while the older generation reminisces about a long-held favorite tucked away in a portfolio—or, in this case, a safe.

But every so often, those worlds overlap. And right now, gold is having a global, cross-generational moment.

So why is gold-buying happening across generations and nations? Let’s start at the global level.

Countries are buying gold for protection and risk management. In a world dominated by the U.S. dollar—where major commodities are priced in dollars and central bank reserves are largely held in U.S. Treasuries—gold offers a way to diversify a nation’s financial foundation beyond any single currency or government.

And as modern conflicts are increasingly fought not just with military force but through crippling financial sanctions, gold takes on added importance. Unlike digital reserves or foreign-held assets, gold cannot be frozen with the stroke of a pen. In moments of geopolitical stress, it can help keep financial systems functioning amid uncertainty and chaos.

What about everyday investors? Why is gold being bought across generations?

To start with our wiser, grayer population, gold holds appeal for several reasons.

For one, it’s nostalgic. Long before ETFs and digital dashboards, buying gold coins or bars was a familiar way to build personal security in a financial system that was steadily moving away from gold-backed currencies. Parents and grandparents talked about it. It was something you could hold, store, and trust when the system felt abstract or distant.

Gold is also tangible. Dollars can be printed. New companies can IPO overnight. But gold has a distinct physicality to it and a finite supply. In a world that keeps spinning—against the backdrop of an aging population—gold carries a sense of permanence. It has outlasted countless economic regimes, and that history still matters to investors who have lived through more than one market cycle. 

So why are younger generations buying gold?

For them, it’s rarely nostalgic and rarely tangible. Their exposure to gold is more likely through an ETF—represented by a dollar value tied to gold bars locked away in a vault somewhere far removed from daily life. They aren’t buying it because they remember a gold standard or a safe full of coins. 

They’re buying it because everyone else is.

Investing today is frictionless, social, and increasingly trend-driven. Assets move not just on fundamentals, but on visibility and participation. In that sense, gold’s appeal to younger investors may be less about history or security—and more about momentum, narrative, and belonging. Investing has become highly mainstream, accessible, and contagious, for better or worse.

How are we navigating gold?

Since the Lord led us to add gold to our portfolio in 2024, it has played a meaningful role in our overall investment mix. But recent events have us looking closer.

To start the year, gold experienced a near-vertical move followed by significant choppiness—think 2-3% daily moves up or down. That kind of rapid appreciation and volatility is often a signal that participation has expanded beyond long-term investors to include a growing number of short-term speculators.

That doesn’t negate gold’s role or long-term merits—but it does change how we view it at the margin.

For now, we are continuing to hold a gold position. At the same time, we’re mindful that the pool of true buyers may be thinning, which calls for discipline rather than excitement. As always, our goal isn’t to chase what’s working—but to steward capital thoughtfully, with an eye toward risk, balance, and long-term outcomes.

What should you be doing about it?

This ultimately comes back to your investment mandate—what this money is meant to accomplish.

If you’re investing for long-term growth, gold may still have a place. Or, this may be a moment to begin looking toward the next opportunity rather than chasing what has already had a strong run.

For younger investors, gold’s contribution has provided an added boost—helping move them further toward long-term goals. For those already retired, investments in gold have done something just as important: it has helped shape both their present and their future, prompting thoughtful reexamination of today’s lifestyle and long-term legacy goals in light of a historic run of performance.

The takeaway is twofold: investing for growth doesn’t stop at a certain age or certain point in life. And secondly, for investors of all ages, when an investment hits, particularly in moments like this, it’s important to stay grounded and reexamine goals and strategy.

Investments are subject to risk, including the loss of principal. The precious metals, rare coin, and rare currency markets are speculative, unregulated, and volatile, and prices for these items may rise or fall over time. Some investments are not suitable for all investors, and there is no guarantee that any investing goal will be met or that any investment will be able to sell for a profit in the future. Past performance is no guarantee of future results. Talk to your financial advisor before making any investing decisions.

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