Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Precious Metal»Gold Bars Worth $1 Million, but Costco Gold Bars Are Cheaper
    Precious Metal

    Gold Bars Worth $1 Million, but Costco Gold Bars Are Cheaper

    August 24, 20242 Mins Read


    A standard gold bar is now worth $1 million after weeks of soaring prices catapulted the precious metal to a record-breaking $2,500 an ounce earlier this week, Business Insider previously reported.

    But if you’re among the group of Costco shoppers who bought gold bars from the retailer in recent months, don’t celebrate your newfound fortune too soon.

    Gold prices have risen about 20% since the start of the year, outperforming tech stocks and enticing a wide array of buyers, including central banks and Costco customers who hope the metal will help hedge against inflation.

    The metal’s rapid rise means a standard-size gold bar, which is typically about 400 troy ounces, now costs more than $1 million, Markets Insider reported earlier this week.

    The gold bars sold at Costco, however, are much smaller than the standard size, typically ranging in size from 20-500 grams. One troy ounce of gold is about equal to about 31 grams.

    The Costco gold bars are smaller, yes, but they are also more affordable for buyers looking to spend less than $10,000 on metal instead of $1 million.

    Costco is bringing in up to $200 million a month selling its gold bars and silver coins, Business Insider previously reported, and each new batch of metals usually sells out within a “few hours.”

    The markup on Costco’s metal sales is low, but the valuable items significantly boost the retailer’s online sales.

    It is, however, hard to cash out. Shoppers are quickly learning that buying gold is far easier than reselling, given the difficulties in trading commodities.

    Even amid its record-breaking performance, the price of gold is expected to continue climbing, especially ahead of a Federal Reserve interest rate cut that is likely coming next month.

    Falling interest rates typically spark an increase in gold investment because of its tangible, time-tested value, BI previously reported.

    Despite the skyrocketing price of gold, a Bank of America investment strategist told Markets Insider that investors should keep buying gold.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    CaratLane Launches Silver Rakhi Collection For US Market

    Precious Metal

    Copper price slips as unwinding of tariff trade boosts LME stockpiles

    Precious Metal

    XAG/USD recovery stalls at $37.40 ahead of US services data

    Precious Metal

    Gold Rush era mining town that hosts murky elite retreat transforms into stunning mountain getaway

    Precious Metal

    Copper climbs – Markets – Business Recorder

    Precious Metal

    Trump’s Copper TACO Move To Trigger Huge Market Revamp

    Precious Metal
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    5 millions $ de l’IFC et du Canada pour 108 mini-réseaux solaires

    Cryptocurrency

    Dogecoin Whales Says The Future Is Rival Cryptocurrency MPEPE

    Investments

    Former Dallas Cowboys WR Tavon Austin announces retirement from NFL

    Editors Picks

    Bond de 10 % à Wall Street | Trump Media va lancer un fonds d’investissement en cryptomonnaies

    March 25, 2025

    Pause Guitare 2025 : marathon rock, fanfare métal, tenues déjantées… Comment le festival veut “casser les codes” cette année

    May 29, 2025

    County OKs agricultural expansion over woodland in Midhurst

    June 15, 2025

    SOIE celebrates the unconditional support of mother’s via “Weaving Deeper bonds” film – Campaign Brief Asia

    August 26, 2024
    What's Hot

    Ivanhoe Electric Secures 100% Ownership of Mineral Rights at its Santa Cruz Copper Project with Final Option Payment

    August 13, 2024

    Zijin buys US$1.2 billion Kazakhstan gold mine ahead of overseas unit’s Hong Kong listing

    June 29, 2025

    UK energy bills may increase ‘under new means testing’ as wealthy asked to pay more

    July 31, 2025
    Our Picks

    Granite Real Estate Investment Trust autorise un plan de rachat.

    May 22, 2025

    Overseas Funds Return to Indonesian Bonds on Dovish Fed Bets – BNN Bloomberg

    August 20, 2024

    Yes Bank annonce que CA Basque Investments cède 2,62 % de sa participation dans la société

    June 4, 2025
    Weekly Top

    CNBC-TV18 Exclusive | PB Fintech acquires Pensionbazaar.com, say sources

    August 5, 2025

    Copper price slips as unwinding of tariff trade boosts LME stockpiles

    August 5, 2025

    Utilities ETF (IDU) Hits New 52-Week High

    August 5, 2025
    Editor's Pick

    Anywhere Real Estate fixe le prix de 500 millions de dollars d’obligations garanties de second rang à 9,750% échéance 2030

    June 18, 2025

    Erie County gives Buffalo Bills fans chance to invest in stadium through ‘Bills bonds’

    August 26, 2024

    PSP Investments buys stake in Ontario’s 407 highway, the pension fund’s largest Canadian investment

    March 13, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.