2024-05-13 13:46:29 ET
Summary
- Gold prices have surged, driving increased interest in gold as a hedge against catastrophe.
- For example, Costco sold $100 million in gold bars in 2023, contributing to its e-commerce sales growth.
- Wheaton Precious Metals (WPM) is a standout investment with its unique streaming model, offering exposure to rising gold and silver prices without operational risks.
Introduction
Gold is red hot again!
While I am writing this, COMEX gold is trading at almost $2,400 per troy ounce, up more than 40% from the 2022 lows, when gold was trading at $1,650.
Even Costco ( COST ) started selling gold bars last year, selling out within a few hours!
As reported by The Wall Street Journal:
Gold buyers, especially those on the younger side, say it is a hedge against catastrophe. Even people who aren’t building bunkers and predicting doomsday are increasingly preparing for worst-case scenarios.
[...] The warehouse retailer said it sold $100 million in gold bars in 2023. It later added silver coins to its inventory. Precious metal sales helped drive 18% year-over-year growth in e-commerce sales during its most recent quarter, which ended in February, Costco said.
Read the full article on Seeking Alpha
For further details see:
Bullish On Gold? Don't Buy Gold Miners, Buy Wheaton Instead