Costco selling gold and silver bullion

[pmbug]

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"The Costco Gold & subsequent media boom has already punched above its raw (fundamental) weight in influencing opinion; it alone is putting Gold as an asset class back on the map for new (that's the key word here) retail investors," she said. "Game-changing market moments come'n go. Some are just well-timed, coincidentally, or not. GLD was developed a couple of years after 9/11 and at the start of zero interest rates, easily creating a bigger path for investors to access the metal. Costco has done more for sentiment and opening new channels when trust has completely broken down post-COVID."
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Shiels also noted that a new consumer demographic is also driving gold demand as Millennials, worried about their future, are attracted to traditional safe-haven assets.

"'The peoples' confidence in the U.S.' ability to destroy itself over time is at an all-time high, and they are seeking a more traditional escape (in assets like Gold) via traditional outlets (in outlets like Costco)," she said.

Shiels also noted that Costco's robust gold sales have defied a few interesting trends in the physical marketplace. Retailers are buying gold as prices trade near record highs. Historically, higher gold prices have weighed on physical demand.

However, this historical trend is seen in more traditional bullion vehicles.

"While consumers are snapping up bars at Costco, subdued coin premiums and Mint sales estimates (US Mint Gold coin sales down were 25% in Q1'24; Perth Mint Gold sales hit its lowest in 5 years in March 2024) indicate aggregate retail demand in the US & Western Europe is subdued," Sheils said.

Although this new Costco phenomenon is attracting mainstream media attention, Shiels said that she sees it as a part of a much larger physical landscape. She noted that Western consumers are only following the trend set by Asian consumers.
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https://www.kitco.com/news/article/2024-04-29/mks-nicky-shiels-asks-if-costco-gold-markets-new-etf-moment

 

[nickndfl]

Unless the entrepreneurial class that mostly shops at Costco is a new group of stackers, the hype will fade. Some of the buyers were looking to flip their bars according to Salivate Metal, but some were upside down with premiums and sales taxes.

 

[searcher]

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[WinkWink]

 

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Channel: https://www.youtube.com/@Spegtacular/videos