The Commodity Futures Trade Commission has also warned people to be wary of investing in gold. Wagner says gold is “one of the worst things that you can ever own." Among the downsides, he argues, is that gold isn't the inflationary hedge many say it is, with inflation at times outpacing gold in recent decades, and that “there are more efficient ways to protect against the loss of capital," such as through derivative-based investments. to safeguard what they have whilst they see what’s happening in the market.”īut not everyone agrees. He added that people may see value in having something tangible - and put precious metals "in a safety deposit box or into a retirement plan, even like an IRA or 401k. And gold kind of ticks all those boxes," Rose said. Rose and others say gold can diversify and balance your investment portfolio, as well as mitigate potential risks down the road. “If someone’s going out to buy gold, that means they think that there’s some type of instability at the structural level of the market and/or the government itself,” added David Wagner III, head of markets and equities at Aptus Capital Advisors. dollar, for example, can cause some to start looking for alternative places to park their money. Jonathan Rose, CEO of precious metal broker Genesis Gold Group, says that recent bank failures, inflation and individuals' concerns about the U.S. Interest in buying gold often stems from feelings of uncertainty, experts say. Still, it's important to pause and evaluate investment prospects. Although one or two ounces of gold won't have a huge impact on diversifying one's investment portfolio, experts note that there's been increasing investor demand for precious metals in recent years, and that's likely to continue. The chain based in Issaquah, Washington, did not immediately respond to The Associated Press’ request for comment Wednesday.Ĭhances are, interest around Costco's gold bars isn't going away anytime soon. That's slightly higher than the current market price of gold, which stood at about $1,835 per ounce Wednesday afternoon.Ĭostco did not specify how many gold bars have been sold recently, or how often it restocks them. No prices were listed Wednesday because of the bars' unavailability, but multiple media outlets reported last week that the 1-ounce gold pieces - offered in two designs - were selling for just below $2,000 each. Unlike some other discount finds at the retail giant, gold bars come with hefty price tag. In a company earnings call last week, CFO Richard Galanti said the gold bars, sold exclusively online, are “typically gone within a few hours” of appearing on Costco's website - adding that there's a two-bar limit per member. While not a typical outlet for the sale of precious metals, the members-only warehouse chain has seen its 1-ounce gold bars sell out faster than discounted 170-ounce jugs of laundry detergent. NEW YORK – Looking for something to add to your Costco cart along with the 30 rolls of toilet paper? How about a bar of gold?
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