Gold prices have surged to record highs, with significant sales reported at Costco, where monthly sales of gold bullion have reached $200 million. This trend is part of a broader rush into gold, driven by a mix of geopolitical tensions, inflation fears, and a shift towards safe-haven assets. Gold futures have hit 15 record highs in 2024, despite signs that retail investors are starting to shy away from profit-taking. The price of gold has exceeded $2,400 per ounce, reflecting increased demand from various buyers, including central banks and individual investors at Costco. Costco has seen a spike in sales of 1-ounce bars of 24-karat gold and $2360 mini gold bars. This surge is attributed to gold's appeal as a hedge against potential economic downturns and geopolitical risks, as well as its role in diversifying investment portfolios amid uncertain market trends.
Gold prices are up again this morning, almost 1%, as more investors view it as a better hedge against geopolitical risks than government bonds due to US inflation concerns. Gold is also seeing support from central banks, some of whom are motivated by more than just inflation and… https://t.co/ic1vLZ06h6
#Gold just made another all-time high! Several forces are at work. - A secular trend of adding gold as a hedge against #debt monetization (fiscal dominance, if you will) and potential #inflation because of that. - A secular trend of #China boosting foreign gold reserves at the US… https://t.co/v7ujLOXKey
#Gold now above 2400$ and itching to go parabolic, ignore this at your peril 👀 https://t.co/E8EEoY3urX https://t.co/5gQ9O128P0
Gold now above $2400. Can’t stop won’t stop (so far) https://t.co/3K8Ebj9I49
Gold is going up every day. Making new ATH’s every day it seems. What is it really telling us? Gold is a fear trade. Something domestic or geopolitical event coming? Gold is an inflation hedge trade. Is inflation coming back in a strong way? Something feels…awry… https://t.co/gmu7WnXbLQ
Gold prices hit record highs on safe-haven demand https://t.co/MIcoQ9Rv72 https://t.co/BSTNw6WkOE
Gold just jumped another $19 to a new record high above $2,390. Yet sentiment is still so low among #gold stock investors that we likely also set a new record for the smallest one- month gain in gold stocks relative to a one-month rise in gold prices. #Silver hit $28.88.
Gold is up +1.44% to $2,406.90. https://t.co/nkrrAe0We5.
GODL! Precious Metal Soars Above $2,400 After Sudden Gap Higher https://t.co/22Csq3buTw
Gold still surging - kinda concerning. Maybe someone is preparing for a big geopolitical move as they know they'll lose their dollars and euros after the fact. https://t.co/sYtEGd3LEJ
$GLD Gold well over 2,400/oz now. Yet $GDX doing very little. Does gold go through a halving as well or something? #goldminerswakeup
GOLD $2400: RECOURD HIGHS *
Gold $2,400 LFG
'So, who is buying gold in bulk?' @TheEconomist Not ETF's but China Central Bank, Instos and Costco customers https://t.co/2OK3WKG1L7
Gold hits record $2379.48. ICYMI from Michael Hartnett: Explosion In Gold Shows Investors Are Preparing For The Endgame https://t.co/7BYxrXYKGa
The gold rush at Costco is a very real thing. https://t.co/ZO111228yN https://t.co/c6KNJLb3Cj
Today show segment this morning on how $2360 mini gold bars are flying off the shelves at Costco…
#Gold has become a hot commodity, with everyone from Costco members to central #banks buying it up. Crescat Capital macro strategist @TaviCosta is tracking the rising prices of gold. He sees banks edging back toward a historic gold standard. https://t.co/WAv2wILPko
Amazing. Costco cashing in on boomer goldbugs and doomsday preppers. https://t.co/I2W1Umq7Wx
What is #gold's resilience telling us? In the last month, bullion trades up 7% while the dollar has gained 1.8%, 10-yr yields 45 bps and three rate cuts by Dec 2025 has been removed. Conclusion: buyers don't care about funding cost, but worry about geopolitics, an out of… https://t.co/j6M6wgWe2K
What is #gold's resilience telling us? In the last month, bullion trades up 7% while the dollar has gained 1.8%, 10-yr yields 45 bps and three rate cuts by Dec 2025 has been removed. Conclusion: buyers don't care about funding cost, but worry about geopolitics, an out of control… https://t.co/Lo5jV5KS5k
Gold drifts higher as geopolitical tensions lift safe-haven appeal https://t.co/i5zTjdPrA8 https://t.co/8B8wf0NoyS
The warehouse club has seen a spike in sales ever since it began selling 1-ounce bars of 24-karat gold last September. https://t.co/hUzAHoYuFU
🥇 Gold futures have notched 15 record highs so far in 2024. There are signs, however, that retail gold investors are starting to shy away from profit-taking, even as prices climb to fresh all-time highs. https://t.co/PRL3CDyIxp https://t.co/AFC6UrxT1u
What’s Up With Gold? Here’s Why Everyone From Costco To Central Banks Is Rushing In. https://t.co/GEdRZNgQV8 https://t.co/kYMByCJK7z
#GoldSurges 17 pc Amid 'Risk-On' Environment, Defying Market Trends - Details https://t.co/ApVQMx5f05
$200 million a month in #gold bullion sales at Costco $COST? Why are Americans hoarding so much gold? Answer: bad times ahead $GLD $GOAU #Bullion #GoldBars #preciousmetals https://t.co/MMYxxRDF9t
Costco gold and silver sales are boosting same-store sales, but profits elusive https://t.co/weCvr0U7ja