Gold Soars as Everyday Americans Lose Confidence in the Economy

Fear of stagflation, soaring debt, and distrust in Washington are pushing everyday Americans toward precious metals.

As economic uncertainty grips the nation, Americans are turning to an old standby: gold.

From Wall Street titans like JPMorgan CEO Jamie Dimon to self-reliant “preppers” and middle-class savers, more people are buying physical gold as a hedge against what they fear is coming—a dangerous mix of inflation, debt, and government dysfunction.

According to the World Gold Council, global demand for gold bars surged 13% in the first quarter of 2025. In the U.S., that demand is being fueled not just by economic data, but by something harder to measure: bad vibes.

The Vibe Shift Driving Gold’s Popularity

While the official numbers might show modest growth and slowing inflation, consumers aren’t buying it—literally or figuratively. “Soft data” like consumer sentiment and inflation expectations paint a very different picture: Americans are anxious.

They’re anxious about inflation. They’re anxious about debt. They’re anxious about global instability. And they’re looking for security in physical assets that Washington can’t print into oblivion.

Gold has surged roughly 25% year-to-date, trouncing the S&P 500. As investors brace for what could be a shaky global economy, the yellow metal is suddenly back in fashion.

Marc Faber and the Rise of the Everyday Gold Buyer

Longtime gold advocate Marc Faber—nicknamed “Dr. Doom”—isn’t surprised. For decades, he’s warned of financial collapse and urged investors to hold gold. Today, it makes up 25% of his portfolio.

But what’s different now is who’s listening.

It’s not just hedge funds or wealthy contrarians. Everyday Americans, shaken by the state of the world, are pouring into gold. Speaking with U.S. based gold and silver dealers, many say their retail customer base is expanding far beyond the traditional “prepper” crowd.

Stagflation Fears Loom Large

One major concern driving the gold rush? Stagflation.

Jamie Dimon, CEO of JPMorgan Chase, warned recently that the U.S. could face “a fate more worrying than a recession”—namely, the toxic combo of high inflation and stagnant growth.

“I think there’s a chance you’ll have stagflation,” Dimon said. He’s not the only one preparing for such a scenario. Dimon pointed to ballooning fiscal deficits, global remilitarization, and trade realignments as long-term inflationary forces that the Fed may not be able to contain.

In such an environment, gold tends to shine.

Losing Faith in the Dollar

Underneath it all is growing doubt in the U.S. dollar and the federal government’s ability to control its spending.

The rising national debt, combined with massive fiscal programs and the uncertainty surrounding Trump’s proposed tax plan, has rattled investor confidence.

Google searches for “gold bars” have spiked following events like Moody’s downgrade of U.S. debt and the reintroduction of tariffs on trade partners.

There’s definitely a sense that we’re heading into dangerous territory as we’re seeing demand from people who don’t usually buy gold.

It’s Not Just Preppers Anymore

While forums like r/preppers are flooded with questions about gold and silver, the demographic is shifting as a broader range of Americans is now entering the gold market. 

Families, retirees, and small business owners are increasingly viewing gold as a practical hedge against economic instability. Many are incorporating it into their overall preparedness strategies—not out of fear, but out of a growing sense that traditional financial systems may not offer the security they once did.

Where Do We Go From Here?

Despite recent optimism in some corners of Wall Street, skepticism is rising on Main Street. Goldman Sachs and Barclays have softened their recession forecasts, but fear is a more powerful motivator than statistics.

As Michael Boutros of StoneX put it, “The rockier things get, the more this [gold] is going to find footing.”

In 2025, gold is no longer just a hedge. For many Americans, it’s peace of mind.

Takeaway for Conservative Savers:

If you’re concerned about the direction of the country—skyrocketing debt, a weakening dollar, political dysfunction, and creeping inflation—now may be the time to consider diversifying into physical gold. The surge in demand isn’t just speculation. It’s a signal.