Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

THE Precious Metals: Gold Thread 2023 (Merged)

Discussions about the economic and financial ramifications of PEAK OIL

Re: THE Precious Metals: Gold Thread 2023 (Merged)

Unread postby theluckycountry » Fri 29 Dec 2023, 16:17:19

"We Sold Over $100 Million Of Gold During The Quarter": Costco CFO https://www.theepochtimes.com/article/w ... =ZeroHedge

20/12/2023
“You’ve probably read about the fact that we’re selling one-ounce gold bars. We sold over $100 million of gold during the quarter [that ended Sept. 30],” Richard Galanti, the chief financial officer of Costco, said during an earnings call on Dec. 14. This was the first quarter of fiscal 2024 at Costco.

The wholesale retailer started selling gold online in September. In an earnings call late that month, Mr. Galanti had alluded to massive demand for the product. “When we load [gold bars] on the site, they’re typically gone within a few hours.” At present, Costco has listed two one-ounce gold bars for sale—one from PAMP Suisse Lady Fortuna Veriscan and the other from Gold Bar Rand Refinery. Both items are listed as 24-karat gold available for members only and limited to two bars per member. Costco offers three types of memberships: gold star and business memberships, which cost $60 yearly each, and an executive membership that costs $120.

The gold bars were listed for sale at $2,069.99 on Dec. 15, according to CNBC. At the time, this was nearly $50 higher than the spot gold price of $2,020.58. Both items are shipped via UPS and delivered in two to five days to customers across the United States. Once sold, the gold bars can’t be returned or refunded.

Costco’s $100 million gold sales come as the retailer continues to report strong profits and the company’s shares have surged this year. Meanwhile, gold prices have also risen. Year to date, Costco shares have risen by more than 45 percent as of the morning of Dec. 18. Gold prices have jumped from about $1,797 per ounce to $1,984 during this time, an increase of more than 10 percent.


Gold price today... $US 2066
après moi le déluge
theluckycountry
Intermediate Crude
Intermediate Crude
 
Posts: 2141
Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia

Re: THE Precious Metals: Gold Thread 2023 (Merged)

Unread postby DanielBrewton » Wed 10 Jan 2024, 05:38:11

Buying Physical Gold is the best choice but putting it in the bank is worse. You are better off buying a Bond if you just want to put that stuff into Banks hand.

For starters you could try Dollar cost averaging into Gold as prices are near all time high right now.

Also you can refer to SPAM DELETED according to it you still do have time the average price based on all credible sources are not going way too high (As if for time being) but beware that nowadays retail are competing with Central Banks and they can print money out of thin air.
DanielBrewton
Permanently Banned
 
Posts: 4
Joined: Wed 10 Jan 2024, 00:14:47

Re: THE Precious Metals: Gold Thread 2023 (Merged)

Unread postby theluckycountry » Wed 10 Jan 2024, 20:53:37

DanielBrewton
Permanently Banned

nice try. Given the lack of activity here I'm surprised they booted you so soon. Given the level of activity here I'm surprised you bothered at all. Things must be getting desperate in the AstroTurf world.
après moi le déluge
theluckycountry
Intermediate Crude
Intermediate Crude
 
Posts: 2141
Joined: Tue 20 Jul 2021, 18:08:48
Location: Australia

Previous

Return to Economics & Finance

Who is online

Users browsing this forum: No registered users and 8 guests