Good evening, Costco continues to be a bright spot in an otherwise dismal retail sector. But it’s not just about the $5 chicken or the $1.50 hot dogs. Costco has become a leading seller of gold. The company began selling 24 karat,1 oz gold bars in October 2023. It’s been a smash hit, generating approximately $200 million in revenue every month. As further proof of demand, store owners in 46 states reported being out of their inventory in the first week. You don’t have to follow the financial markets too closely to understand why. Gold is one of the best-performing asset classes in 2024. It’s up approximately 33%, and as of this writing, an ounce of gold trades for $2,735, just a few dollars below its all-time high. Some industry analysts predict that $3,000 for an ounce of gold is inevitable. However, the yellow metal still has its critics. And those critics say that gold being sold at Costco brings to mind Joseph Kennedy’s quip from the 1920s. At the time, a shoeshine boy gave him a stock tip, which signaled to Kennedy to start selling stocks, remarking, “You know it’s time to sell when shoeshine boys give you stock tips.” To these critics, Costco is the shoeshine boy of 2024 and a sign that FOMO is at a fever pitch. Gold bulls see it differently. But they’re not looking at Costco; they’re looking at central banks around the world, which are buying gold at a record pace. And that demand surge says nothing about sticky inflation and the sovereign debt crisis among world governments, including the United States, that continue to erode the purchasing power of other forms of paper currency. In short, there are many reasons to believe this gold bull market has a lot of room to run. In this special presentation, we’re looking at seven gold stocks for investors to consider as gold continues its sparkling run. View the 7 Gold Stocks to Buy as the Metal Hits an All-Time High The DividendStocks.com Team
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