Costco gold bars are selling out within hours
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Re: Costco gold bars are selling out within hours
#2Purchase limit 2 per customer.
Re: Costco gold bars are selling out within hours
#3Spot price appears to be manipulated for quite a while. Lots of demand for precious metals, yet the price isn't really going up, especially with inflation.
Re: Costco gold bars are selling out within hours
#4Spot price appears to be manipulated for quite a while. Lots of demand for precious metals, yet the price isn't really going up, especially with inflation.
“Lots of Demand”
[citation needed]
Re: Costco gold bars are selling out within hours
#5Spot price appears to be manipulated for quite a while. Lots of demand for precious metals, yet the price isn't really going up, especially with inflation.
Gold as a store of value works better when the world is using it as a reserve, but they don’t anymore so it is just like any other limited supply commodity and doesn’t necessarily need to go up in price due to inflation. It only will go up due to emotion.
Re: Costco gold bars are selling out within hours
#6Spot price appears to be manipulated for quite a while. Lots of demand for precious metals, yet the price isn't really going up, especially with inflation.
Yes, it's incredibly odd. Most US large ETFs and crypto have basically been in lockstep for much of the last few years. Same with housing, delayed a bit. It seems to indicate that that we're seeing when we look at the price of these assets is largely just a map of inflation rather than a substantial increase in value (i.e. just a graph of non-USD assets going up in terms of USD as real value of USD decreases). The easiest thing to check against, though, is gold, which has barely budged in comparison. Metals are not moving in lockstep. Given inflation, and the uncertainty at the beginning of COVID, you would've really expected something there. Genuinely don't get it.
Re: Costco gold bars are selling out within hours
#7Pfft, why settle for a 1oz bar when you can get a
Mother and Baby Kangaroo 2023 2oz Gold Bullion Coin
https://www.perthmint.com/shop/bullion/bullion-coins/mother-...
from the Perth Mint?
( Or Dillon Gage, Texas: https://dillongage.com/coins/perth-kangaroo/ )
Buy one for your mother and two for your girlfriend, they're so cute you'll want more!
Don't turn over if you're not into monarchies
Caveats when biting the gold: https://www.perthmint.com/news/media-announcements/corporate...
Re: Costco gold bars are selling out within hours
#8I'd love to see an economists take on the value to a consumer of holding gold in this form, at the price.
Investment gold is usually kept in vault, and you trade ownership arms length. Direct gold ownership is rife with risks: fineness, substitutions and overpriced purchase. Yes, you can always sell at a mall gold trader but that's way way off market price.
So it's an inflation hedge with a lot of cost and risk and demands huge upswing in gold price to pay off. And securing it at volume is a nightmare. Plus Costco wants to limit you to 2, and have a margin.
Re: Costco gold bars are selling out within hours
#9Here in Greece when people want go they'll go to a bank and buy British gold pounds (https://en.wikipedia.org/wiki/Sovereign_(British_coin)). I'm not sure there's a limit; you can buy as many as you want.
Re: Costco gold bars are selling out within hours
#10I'd love to see an economists take on the value to a consumer of holding gold in this form, at the price. Investment gold is usually kept in vault, and you trade ownership arms length. Direct gold ownership is rife with risks: fineness, substitutions and overpriced purchase. Yes, you can always sell at a mall gold trader but that's way way off market price. So it's an inflation hedge with a lot of cost and risk and d…
Sounds like people who buy currency from a high street currency exchange or bitcoin from coinbase (or a high street bitcoin ATM!) Even if the theory of investing may be sound they haven't really thought through how they're going to sell it later. No doubt they have heard investing in the particular thing is a good idea but lack the knowledge to properly apply it.