Millennial 'Gold Bugs' Shop for $2K Bars at Costco
By Lee Barney | Friday, 05 April 2024 08:16 AM EDT
Costco shoppers can now buy a $1.50 hot dog — and a $2,200 bar of gold — at the same time, and more are doing just that.
The warehouse retailer, which began selling gold bars last year, sold $100 million worth of them in 2023, and it now stocks silver, too, The Wall Street Journal reports.
The gold and silver, also available online, sell out in hours.
Inflation, COVID, the wars in Ukraine and the Middle East, the $34 trillion U.S. national debt, and the devaluation of the dollar, have all buoyed the appeal of gold, even among Millennials.
A surprising 17% of Millennials now own gold, according to State Street. Gen X and Boomers also invest 10% of their portfolio in gold.
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READ MORE: https://www.newsmax.com/finance/streettalk/costco-gold-bar-inflation/2024/04/05/id/1159880/
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