Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at Costco’s gold sales boom. (See the Precious Metals section.)
Precious Metals:
Costco Just Sold More Than $100 Million in Gold in One Quarter. The article begins:
“In a surprising turn of events, Costco has struck gold with online shoppers, raking in more than $100 million in sales of the precious metal during its fiscal first quarter, which concluded on November 26. This revelation was shared by Costco’s Chief Financial Officer, Richard Galanti, during the company’s recent earnings call.
The sought-after 1-ounce gold bars have become a hot commodity, consistently selling out within hours of being listed on Costco’s website. In September, Galanti noted that the gold bars, priced at $2,069.99 per ounce on the website, were in high demand, often disappearing swiftly despite their premium cost compared to the latest spot price of $2,020.58.”
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Rick Ackerman, at Gold-Eagle.com: Gold Can’t Pussyfoot Forever.
Economy & Finance:
Rickards’ Five 2024 Forecasts.
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WSJ: How the Housing Market Slowdown Is Rippling Through the Economy in Five Charts.
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Reader H.L. sent this: Carbon Capture Needs Enough Pipelines to Circle Earth Four Times.
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A piece by Alasdair Macleod, from D.S.V.: Underestimating Debt Traps.
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AI is a danger to the financial system, regulators warn for the first time.
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