Gold is hitting record prices this week, reaching $ 3,500 an ounce For the first time Another milestone is hitting on Tuesday and then on Wednesday: $ 3,593.20 an ounceGoldman Sachs predicted this week Research note By mid -2012, gold prices can rise above $ 4,000 per ounce.
Goldman Sachs said in the note, “Gold remains a long recommendation our highest-convision.” In April, JP Morgan also predicted that gold prices would rise above $ 4,000 an ounce by the second quarter of next year.
And the effects are felt far away from the wall street.
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Wholesale Retailer Costco, which sells $ 200 million price In gold bars per month, in 2023 began selling commodity when gold was at an average closing price of $ 1,943, per macro trend per macro trend.
As CNBCIn September 2024, the one-ounce costco gold bar costs $ 2,679. If this year is held on the purchase of a costco shopper, the same price will be $ 3,549 this month, the profit of $ 870.
Costco Gold Bar. Photographer: Clarke Hodin/Bloomberg via Getty Image
Experts told ABC News Rising gold prices reflect high economic uncertainty. In the atmosphere of Slow recruitment And inflation Above the 2% target of the Federal Reserve, investors are demanding low -risk investments such as gold.
“The probability of economic recession has increased greatly, and people naturally look for a safe shelter property,” told the outlet, Professor Campbell Harvey of the Duke Business School, Campbell Harvey.
Connected: Is Platinum Bar of CostCo a good investment? What experts say here.
According to the outlet, Gold has gained a higher value than alternative investments, such as purchasing the company’s shares on the stock market. Gold prices have increased by more than 42% this year, more than 9% profit in S&P 500, Dow Jones Industrial Average increased by 6% and 10% spike in Nasdaq over the same time period.
Costco was almost 137 million members In 2024, in 2023 from 128 million, per statistic estimate.
Gold is hitting record prices this week, reaching $ 3,500 an ounce For the first time Another milestone is hitting on Tuesday and then on Wednesday: $ 3,593.20 an ounceGoldman Sachs predicted this week Research note By mid -2012, gold prices can rise above $ 4,000 per ounce.
Goldman Sachs said in the note, “Gold remains a long recommendation our highest-convision.” In April, JP Morgan also predicted that gold prices would rise above $ 4,000 an ounce by the second quarter of next year.
And the effects are felt far away from the wall street.
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