In times when markets may prove volatile, many move away from the trading and move toward the tried and true method of collecting precious metals. Lately, some have questioned the efficacy of keeping their funds digitally, and are moving back to these valuable commodities.
Many turn to metals like gold and silver, hoping they’ll retain their value, and one retail giant is even capitalizing on this growing interest.
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After the massive success of its gold bars in 2023, Costco has expanded its collection, and it’ll now be including platinum.
With a Costco membership, customers can pick up a one-ounce Swiss-made platinum bar for $1,089.99.
Earlier this year, Wells Fargo estimated that Costco may be selling up to $200 million a month in gold alone.
Meanwhile, gold spot prices have risen by 45% in the past year and platinum is up 14%.
Karah Rucker
THIS WEEK BANK OF AMERICA CUSTOMERS EXPERIENCED A SHOCKING SYSTEM OUTAGE THAT CAUSED THEIR ONLINE ACCOUNT BALANCES TO DISPLAY ZERO-DOLLARS.
WHILE THE ISSUE WAS RESOLVED, IT PROMPTED MANY ONLINE TO BEGIN ASKING AN AGE-OLD QUESTION ABOUT DIVERSIFYING THEIR ASSETS.
IN TIMES OF ECONOMIC UNCERTAINTY MANY TURN TO METALS LIKE GOLD AND SILVER- HOPING THEY’LL RETRAIN THEIR VALUE.
AND ONE RETAIL GIANT IS CAPITALIZING ON THIS GROWING INTEREST.
AFTER THE MASSIVE SUCCESS OF THEIR GOLD BARS IN 2023, COSTCO HAS EXPANDED ITS COLLECTION TO NOW INCLUDE PLATINUM.
WITH A COSTCO MEMBERSHIP, YOU CAN PICK UP A ONE-OUNCE SWISS-MADE PLATINUM BAR FOR ONE-THOUSAND-89-DOLLARS-AND-99-CENTS.
EARLIER THIS YEAR, WELLS FARGO ESTIMATED THAT COSTCO MAY BE SELLING UP TO $200 MILLION PER MONTH IN GOLD.
MEANWHILE, GOLD SPOT PRICES HAVE RISEN 45% IN THE PAST YEAR AND PLATINUM IS UP 14%.
FOR STRAIGHT ARROW NEWS, I’M KARAH RUCKER.
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