Costco To Begin Selling Gold
From WLT Report
Article By Noah Original Publish Date: September 12, 2023
I love it when we beat the big players to the table.
We take great pride in our reporting and I love to see when that reporting is confirmed like what just happened here.
For the past few months we’ve been telling you that it might be time to look into Gold and Silver.
You know, “God’s Money”.
Since the beginning of time, that has been the only enduring sound money.
So it made sense, especially as they print the U.S. Dollar into oblivion.
When you can just print trillions of new Dollars whenever you want, it doesn’t take an economist to realize that soon the Dollars in your pocket have less value.
They’re literally “worth less” and in the future may even be entirely “worthless”.
But Gold and Silver have always endured.
We’ve been telling you over and over and what just happened this week?
Now Costco is telling you.
In addition to selling you 18 bottles of ketchup and a 32-pack of Mac-and-Cheese, Costco will now be selling GOLD.
Simple question, and again it doesn’t take an economist to figure this out: What do you think all that increased Demand is going to do to the price of Gold?
Yup.
Looks like Costco is joining the gold trade. In time we may see a run for gold bars where lineups out the door at Costco not for groceries but for gold. #gold #costco pic.twitter.com/JGstjxdilL
— Mario Stifano (@Mario_Stifano) September 6, 2023
This is a bit technical, but it shows just how well Gold has done recently:
While $GOLD prices may be falling, it's important to remember that gold has held up extremely well considering the rise in real yields on treasuries.
Once real yields inevitably fall, gold prices can be expected to soar. pic.twitter.com/3q7TKPIZTi
— GLDB ETF Fan | Stocks & Gold (@GLDB_ETF) August 27, 2023
Many are saying the Costco pricing is “not great” on Gold:
Costco getting a piece of the action! #Gold
Can't complain about Costco's service however the premium on their 1 OZ Gold Offer is STEEP!
Check the link in the comments to get the best hookup on your Precious Metals! pic.twitter.com/p9bM8hrmzF
— Zach Rector (@ZachRector7) September 10, 2023
From The Daily Mail:
Bulk-buy retailer Costco starts selling GOLD worth up to £24,500 in its supermarkets – but shoppers are warned to be wary because of violent price fluctuations
Bulk-buy specialist Costco is now offering bars of gold for up to £24,500 a time
Experts warned people could be getting a poor deal after swings in gold market
The price of gold has risen 28 per cent in past 12 months, but it’s a volatile market
It’s not an item likely to be on the weekly shopping lists of many households – but one supermarket giant has started selling gold bullion alongside its everyday groceries.
Bulk-buy specialist Costco, more normally known for its ‘pile-’em-high, sell-’em-cheap’ philosophy, is now offering bars of the precious metal for up to £24,500 a time.
But experts last night warned shoppers they could be getting a poor deal, particularly after violent swings in the gold market this year.
While the company’s mark-up on gold is up to seven per cent on the market rate, it is also selling silver bars at a whopping 28 per cent premium.
Many investors have been turning to what they see as the security of gold this year, amid huge uncertainties in the world economy caused by Covid-19, international tensions and political discord in America.
But while the price of gold has risen by 28 per cent in the past 12 months to almost $1,900 (£1,469) an ounce, it is a volatile market, declining by more than six per cent in the past two months alone.
On September 24, Costco’s 100g bar was on sale for £4,939.99, when the market price for that much gold was £4,619.70 – equal to a seven per cent mark-up in store.
See full article here.
WLT REPORT
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