Why people are in a rush to buy gold at Costco
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- Опубліковано 10 кві 2024
- Big-box retailer Costco started selling 24-carat gold bars around a year ago and it has created a frenzy with customers. A Wells Fargo analyst says sales “may now be running at $100 million to $200 million a month.” NBC’s Sam Brock reports for TODAY.
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#Costco #GoldBar #Consumer
I was told to spread my money across different things like stocks and bonds to protect my $750k retirement savings. Now, with the markets being shaky, should I keep adding money to my portfolio or consider other options?
Absolutely! Having a financial expert has been a game-changer for me. They provide tailored advice that takes into account my unique financial circumstances, which has helped me make informed decisions and avoid costly mistakes.
Thank you for sharing your positive experience! I've been contemplating seeking the guidance of a financial expert myself, but I wasn't sure where to start. Do you have any recommendations on how to find a reputable financial advisor or firm? I'm particularly interested in someone who can provide personalised advice and help me develop long-term strategies for financial growth. Any insights you can offer would be greatly appreciated!
Exactly, having a financial expert by your side is invaluable due to their ability to provide personalised advice tailored to your specific financial situation. With their expertise, they can help you navigate complex financial decisions, Optimise your investments, and develop strategies to achieve your long-term financial goals.
Financial experts such as Dustin Dwain King offer extensive knowledge and experience, aiding clients in crafting tailored financial strategies to achieve their objectives.
Oh yeah that's true, Dustin Dwain King is also the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
The most useful thing about those bars is someday you will need to use them to buy steak at Costco.
The loss of purchasing power of all currencies is accelerating. Costco is helping their future sales by protecting their customers purchasing power.
The last time I bought Gold in went up by 1\3 in 2 years ..... If Donald Dump ~ gets elected again .. ill bet it doubles..
You wouldn't have a Costco let alone a functioning society when the USD falls.
@@giantlabsgloom and doom 😂😂
@@michaelwells7348you mean Biden
Mainstream media reporting on gold is wild. Someone gave them the go-ahead because the exposure will further drive up the price.
I hope so.
Pretty sure they all invested months ago in preparation for these stories.
Gold is not an investment. It's for preservation of wealth. That said, for easier liquidation buy American gold eagle or buffalo if you live in US.
The liquidity point of gold is 1,064 °C.
It can preserve wealth and grow in value like an investment. So both. Please dont misguide people.
@@alr6111 Gold is not an investment. If one wants to invest, they can try mutual funds, index funds, exchange traded funds, stocks etc.
I don't think you'll have the slightest bit of difficulty selling these bars.
@@alr6111 Approximately 100 years ago in 1915 gold was $601 or $18,585 in today's dollars. As of March 2024 gold was $2231. That is a total LOSS of value of ($18,585 - $2,231) = $16,354. Who's misguiding who now? It hasn't even kept up with inflation to 'preserve wealth', let alone grown.
Its because gold is sold 100-200 dollars cheaper on Costco than other rare metal websites. Also, you dont have to worry about it being lost in mail, or mailing cost. Also, gold is still used in electronics, dental, medical, aerospace and other industries, so it will always have value for a long time
its better than buying apple products.
This... Buy a budget phone and gold rather than iphone
When the dollar gets weak, it could mean tough times ahead economically. I'm thinking about how to protect my money from inflation. Lately, I've heard a lot about Bitcoin. With its halving finished and ETFs approved, many folks expect its value to shoot past $100k. I've got $300k saved up, and I'm tempted to invest now. But I'm worried: Is it too late to make the most profit?
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
Due to the significant falls, I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this coach?
Sharon Lee Peoples is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
unlike the dollar, you cannot print unlimited amount of gold
Fiat is what gets things done. Gold is a shiny pet rock for losers.
@@Metacognition88 You can resell gold in any currency, so the problem doesn't arise. I have never seen anyone fail to sell gold, however in history there are frequent cases in which certain fiat coins became junk due to inflation. There are even current cases, such as Argentina and Turkey, with very high inflation.
@@Metacognition88- Stick with your Fiat trash then cool guy …
we shall see who ends up ahead in time.
Gold is needed in computers and engineering. Idk if people should be able to just buy it for no real reason other than as a paper weight 😂
Gold plenty all over the earth,production increases year after year
As a gold buyer of many years, It’s funny to see the today show talking about it now.
Gold is real money. Dollars are slipping in value every day.
lol
the biggest fear to a tyrant is the mass adoption of gold
Good luck finding a buyer for those bars 😂
@@linger4605 Obviously, you have no clue.
@@muhlenberg2608 Sure Jan. Sure.
As a professional gold panner on my channel, I see this as an absolute win
I'd rather pan for it.
@@alexthompson9516 pay or pan?
@@PhaseSkater Pan.
Someone who pans gold on utube as a hobby is not a professional . Cool skate videos though 👍
Dont lie. Youre a fake guru. 😂
Gold, the original real money going on 6 thousand years.
So they can get an 11 lbs box of lucky charms at the same time?
Precious metals can be one of multiple pillars of investment.
No. Precious metals are speculation not investment. Over the long-haul, precious metals have poor returns as they don't do any work. The metal just sits there like a lazy couch potato watching other people do stuff on TV.
@@DemPilafian Sounds good. Now hand me the remote!😅
@Joe-no7gs Please tell us the best get-rich-quick scheme.
There are so many billionaires out there that it's only fair I get my share!
In times of uncertainty, gold is always certain
It's better than buying Starbucks everyday...
Before buying these bars, call up a gold shop near you and ask what they would pay if you sold them one of these bars.
They have to pay you spot price
You should always be able to get spot for gold. At worst you will get 1% - 2% minus spot for an ounce of gold.
Before you buy a new car call a used car dealer near you and ask what they would pay if you sold them your new car. Gold protects your purchasing power because it can not be debased, unlike fiat that is constantly being devalued when new money is created through fractional reserve bank lending whenever a loan is made, or from rampant deficit spending.
Not true they can pay you whatever they want. Almost noone gives spot anymore.@@Scaryerrorsandwarnings22
@@Scaryerrorsandwarnings22no they don’t. Anyone buying it back will always charge a small fee. It’s how the jewelry business works.
Just in this clip, gold went went from $2000 to $2300 in 3 mins.
Buying gold is an investment. If u would’ve bought it in 2018 it was around 1700 dollars now is at 2300 . For all u haters that don’t understand. And it’s going to keep on going up.
Awful rate of return compared to other investments you could have made actually.
@venom5809 it's up 14% this year and another 14% in 2023. You wish you had anything that good.
@@73ajd1I own an apartment building in NYC and a shopping plaza. Care to bet who has more money 🤔😂
@venom5809 You were talking about rate of return. Now you're talking about net worth. You're kind of slow, aren't you?
lol keep dreaming in your tiny 2000 rent 4x4 box
2% above spot is amazing.
It is. I'm going to have to get a membership.
Gold is up 400 bucks an ounce when this gold was selling at 1999.00. Enjoy the inflation, buy gold.
The reason for this is that Africa ties its currency to gold.
@@Kemet3.0Zimbabwe currency is backed by gold. 👍
Absolutely! People are making fun of it but it’s definitely a hedge against inflation and it’s been in existence longer than we all been around since we all walking on this earth.
That's cherry picking your data. Over the long-haul, gold is always a bad investment. Actually, it's not even an investment -- it's speculation. Instead, invest your money in a U.S. dollar denominated S&P 500 index fund and leave it there. Stop playing games with cash, gold, and crypto.
@@DemPilafian PS - we have not always had 34 trillion in debt we will never repay. We are added to it every day. Enjoy
price is all time highs for gold. That means people are fearful of holding dollars.
No, that's not what that means at all.
@@73ajd1 i watch alot of peter schiff. He is a gold bull. Printed money in general is dropping in value. The dollar is doing well because the rest of the world is in recession. Once countries and people stop buying t bills, the whole ponzi scheme comes crashing down. Whats wild is the biggest buyer of t bills is public sector pensions. When the govt cant pay out as promised, of if they do in heavily inflated dollars, all these pensions will be worthless.
lol economics explained by an infant
Its better than having fiat currency, even if you lose half the value which you wont but even if you did its still, money thats not stolen from inflation.
incoherent
Do you know what is a better investment medical supplies, guns, ammo, long term storage food
liquidity is another important factor
The melting point of gold is 1,064 °C.
APMEX and SD bullion are good as well.
I love SD Bullion
I prefer JM Bullion, however, now that Costco sells gold, there is no competition.
I've never been to a Costco. I've wanted to go in the past to look at watches but maybe I'll have to scout out some gold. Yes, SD, JM and Apmex have been my main sources in the past.
In Perth Australia you can buy 1 kilo gold bars , true fact at costco
I can’t find it online 0:43
Sell the bars at jewelry stores after u buy with your credit card = free credit card points
Investment in many precious metals is always a good idea. Gold, silver, platinum, lead.
How much is it
i been buying gold before the pandemic, not now at these prices, i wouldn’t buy bars. stick with coins, specifically american coins if your in the usa like buffalo’s and eagles or canadian maple leafs if your in canada
She ruined the joke by guessing the chocolate. I can't stand those people.
this came out 6 hrs ago and all the prices are under the cost of the gold its self already. gold went up so fast the prices are already outdated
Greed is so discusting.
I have purchased my share of gold and silver over the years. Only my first purchase did I consider an investment. After that I realized it is only an insurance policy.
Where will we sell gold to get internet?
What are the best additions to a $500k portfolio to boost performance?. ETH is Up and will do better, I believe as indicators for profits continue to improve, investors like me believe that “Santa has come early” to the markets
I think you're better off with majority investment in bitcoin and uprising equities cos they always outperform. Alternatively speaking to a certified market strategist can help with pointers on which to acquire
wow massive gains! my partner recently hinted on going same direction.. what did you invest in, and who is your investment advisor please, if you don’t mind me asking? in dire need of asset allocation
(Rosa Barnard Investment Advisor) is the licensed advisor I use. Just copy everything in the bracket and research. You'd find necessary details to work with to set up an appointment
Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals
Early? 😩💦
$5,000.00 an ounce.
its a hedge against inflation
A dollar in 2020 is worth $.84 today. When you think it is the same dollar that is a case of nominal confusion. The main stream media, and our government has always hated gold and will always disparage it,
A dollar is worth like 10 cents.
I don't know what land you're living in.
The Governments can't Stop the rush back to REAL MONEY. They're losing control of their Banking system thw fiat monetary system is collapsing and they can't hide the Debt Nor the GOLD
_The lesson is:_ Do *NOT* store your wealth in cash under your mattress. Cash is not safe because inflation eats it. All you need to do is put your money in a U.S. dollar denominated S&P 500 index fund and leave it there. Stop playing games with cash, gold, and crypto.
@@DemPilafianBut what do you always redeem your S&P Index fund for in the future?
Only devaluing / disintegrating cash.
@@davidmmm8 The mighty U.S. dollar. The American economy is diligently working away right now so I can have a comfortable retirement.
The paranoid people can go back into their underground bunkers and survive on their 5 year old freeze-dried mush.
Long term stackers watching this: bruh,
Dont forget SILVER 💪
A popular UA-camR who has a precious metals focused channel uploaded a video recently (2023) basically discourage purchase of gold bars. Reason is that counterfeiters will almost always counterfeit bars before they attempt a counterfeit of a coin. His stance is that when selling the bar, it's really hard to prove it is real, unless the purchaser has equipment that costs THOUSANDS of dollars which will test them.
So when it comes to gold, I am surely sticking with coins.
It's impossible to find.
I wish I could find one for only $2 thousand!
Then buy fractional gold.
I paid 1400 in 2015
I just wish gold and silver was more easily exchangeable, up to the mid to late 20th century, they were in the coins circulating everyday, today they are more like stocks
I got me gold teeths no grill and the dentist said if you go broke your not broke yet 😂😂 need me a gold bar
Because central bank around the world are buying them to diversity their portfolio. Also inflation in the US is another issues.
Get Rid of The Fed and jump back on the Gold Standard
US is printing dollars endlessly...
National debt will pass 35 Trillion soon.. Buying gold is a real win for public... Inflation will eat you alive unless you have some real wealth like gold...
Wish I bought gold when it was cheap
It is cheap today compared to 5 years out.
That’s the mentality that retail investors don’t understand. You buy when the markets are boring.
@@73ajd1 i mean when I had money and it was cheaper
I wish I bought more of them. Before pandemic hit, it was $1300 then. I would have been rich by now 😂
Buy silver
my whole month salary in that 1oz shiny metal
1 month and a week for me but it will take me 8 months to save for it. But there is no Costco near me oh well
Heard gold was real money and the dollar was just USA credits
I can't even get it here in Taiwan's Costco! Even the demonstration rack is disappeared!😅
*Richard Nixon has left the chat*
Now imagine going to the gas station and paying with a credit not you created backed by a certain weight of gold. That is real money right there. But if you create more credit notes than you have weight of gold its as though you wrote a blank cheque
Leprechaun: I want me gold LOL
Looks like me gold, smells like me gold!!
lol
Someone please fill me in on all the details on why the video game company who makes Call Of Duty now sells both gold and silver bars just like this???????
Trade in the fake stuff for the real money!
VERY nice !!!!
The mainstream can now buy precious metals at the grocery store, 'murica.
Better question, why wouldn't you do this if you could? Fiat is going to zero. Gold isn't.
Use thse abd thse
Wait until the shoplifter gangs catch the deal.. they won't stick to 5 per person!
Do not ever expect to buy gold today and sell tomorrow or in a short time this is for long term buy it and sleep on it and forget you have it .
Gold is A TIER1 ASSET IT IS MORE VALUABLE THEN THE US DOLLAR 💯 FACTS BASEL-3 ACCORD,
Canadians are Gold, reliable sensible and a good neighbour so invest!!
Cmon hurry up and use your income tax refund or credit cards to purchase one ounce gold for $2,000 dollars. True statement during inflation. Yeah.. purchase for me.
and there goes the value ... rip
6000 years of history as money.
1900 for me months ago
jesus christ i remember when a oz was 360
Because they're the same people who rushed to buy crypto. They're the same people who rushed to buy Donald Trump NFT trading cards and action figures.
And they're rich right now for doing so. I wish i did at that time.
@@inflation1139If only we all had crystal balls to predict exactly which investments will gain or lose value. What’s to say that gold will continue gaining and won’t won’t lose a lot of value? It’s a gamble.
@videogameplayer0552 bitcoin was PENNIES at the time , stop it. As others chose to spend their money to got high or drunk, these people put their money elsewhere. Thats the hard facts about it. Yes its harder to put 2k on gold but the ones that did it when it was a couple dollars decades ago, made the right choices also.
@@inflation1139 And how would anyone have predicted that Bitcoin would be worth tens of thousands? There are thousands of different stocks, cryptos, and other types of assets, and many of them end up being worthless. Finding the next big thing that’s gonna make you a fortune is like finding a needle in a haystack.
@@inflation1139 If you want a consistent and reliable way to get rich over time, you should put most of your money in an S&P 500 ETF like VOO. Everything outside of that is for the most part a gamble, because you’re putting your eggs in one or just a few baskets. Crypto is extremely volatile and while it could make you rich, it could just as easily be worth next to nothing tomorrow. Just like stocks, crypto is dependent on a lot of external factors, and all it takes is some new government regulations to crush it. I own a little crypto, mostly newer cryptos for the fun of it and the thrill that maybe one day they could make me a bunch of money, but the majority of my invested money goes into the VOO ETF.
oh i remember finding it odd that costco was selling gold a while back, turns out they are onto something lol
Support your local coin dealer. As long as the premium isn't much.
🎉🎉🎉 THE RUSH IS ON BABY. MONEY IS GOLD EVERYTHING ELSE IS DEBT
yeah currency value be bouncing around or weakening because of global instability, not surprise there and it's probably wise to look at other options like purchasing these $2,000+ gold bars. Gold has been a solid choice of value for eons (or whenever humans became smart enough to know that gold is a dope element and can used as universal currency lol), But, don't just stick to one thing though and get caught up with the hype. Mixing it up with different investments can keep your money safe when things get wild out there. So yeah, gold rocks, but variety is key too.
Gold is the most liquid asset on this planet, so how is it difficult to sell?
Glad Costco is selling gold. Gives this wonderful precious metal more credibility.
It's all just too high in price for me...
That’s what they were saying when it was only $500, $1000, $1500…fomo gets more real the longer you wait lol
Nah no thanks. My local Costco parking lot is notorious for carjackings, kidnappings, juggins, muggings, and even an armed robbery on an armored car.
At some point in the future, these people are all going to get burned when the price of gold absolutely craters! If you want to play this gold rush smart, buy shares of Costco (COST) in your stock portfolio because at the current rate, Costco is selling 200 million dollars worth of gold per month.
You pay prime price, try to sell it, and see how much you lose.
When it all go's bad it would be worth it.
Sad I had to sell what gold I had to just keep up my minimal expenses before now ! But....I did sell much to a child of mine who has made BIG BUCKS ! I hope she will finally appreciate my foresight even though she balked. Ahahaha !! Sold it about $1000 less than today's price. No one believed me......I was right on. Bet she will never admit that. I was always the family scapegoat. At least she will have to admit the truth. Finally.
Ur exposed to buy low and sell high. They say this is the new floor. But every other day they say its a new record high…
You got ripped off on that chocolate, dude.
Now explain how to change that back to cash. Funny enough ending with cocoa beans going up 400% over the past decade or so due to tree die off in Africa.
Any coin shop or online retailer will buy them. It's not hard.
What do you mean? It IS cash. Gold can be exchanged as is or converted to whatever trendy currency around the world. Gold is universal money.
GLD etf is good enough for me. No commission and no safe deposit box to store; easy peesy
I thought everyone was broke?
These are probably investors who are tired of giving money in Stable coins and maybe broaden their portfolio or some broke an IRA in half.
2400 for an oz of gold is a rip off gold is only 2000 an oz on a bad day 🤦🏾♂️
Take a look at the price again.
Gold is KING
I have a friend who bought a $5000 gold chain that jewelers won’t even pay him half that for. That says all I need to know, even when considering he got ripped off. I know he didn’t get ripped off that much. Gold doesn’t retain value. Just buy index funds ffs
Iran bought GLD to offset sanctions levied against them...price spike is not supported
Turn depreciating cash into appreciating asset that gets you cash back? OK
$11.99 for those bags of chocolate coins? I think they are $2 at the store near my house.
Gold and silver is real money not like bitcoin
Thanks, Costco..it's ABOUT TIME..that precious metals "dealers" (even the big online outfits) had some reputable competition! I've purchased gold and silver, in the past; from one of the dealers which regularly advertises on the financial networks, and BOY, OH BOY; was that ever a SLEAZY, HIGH-PRESSURE, experience. Those guys make dealing with used-car salesman, feel like dealing with THE POPE, in comparison! NOW..if Costco would only offer a full-service exchange option (buying AND selling) of gold AND silver, that would be AWESOME!
u can’t return it because gold fluctuates too much and costco ain’t losing a dime 😂😂
Metals are generational wealth. I have silver coins. It's not to invest now, and sell in a few months. And like they say, have fun trying to sell it at a dealer.