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According to research published by specialist insurance broker Aon Private Clients today (29 May), gold was seen as the safest bet, compared to 20 per cent of people feeling confident in property investment.

However, of the 2,031 adults surveyed, a third (34 per cent) said they were not confident of investing in anything at all. Women are much more cautious, with 38 per cent not willing to take the risk compared to just 24 per cent of men.

The results are dramatically different to those on Aon's 2006 research, which showed that 58 per cent of people favoured property investment to supplement a pension, followed by 50 per cent preferring shares.

Director at Aon Artscope & Specie Daniel Smith said: "Gold has historically been a safe haven for investors in times of trouble. Even the credit crunch and the biggest fall in gold price for a quarter of a century in March have failed to dent confidence.

"As with any market, prices will go up and down, but the price of gold has consistently increased over the longer period, so is still considered by most to be a sound investment.

"The survey results reflect the growing global appetite for gold and other precious metals. With its global appeal and emerging consumers, such as in China, the good news is that demand continues to outstrip supply, suggesting that the price will remain buoyant for the long term."