How hot is gold this year? Costco Wholesale and Walmart are both starting to sell gold bars!
Gold has been extremely popular this year, with both Costco Wholesale and Walmart starting to sell gold online. Against the backdrop of high inflation, gold has become the new favorite of American consumers. Costco Wholesale sold over $100 million worth of gold in the first quarter, and Walmart has also started selling gold and silver. The actions of these retail giants have sparked a gold rush, and the price of gold continues to rise. Spot gold has risen 14% since early October, reaching a new record of $2,088 per ounce this week.
Walmart has also started selling precious metals such as gold and silver in its online store, following in the footsteps of Costco Wholesale. The website of this retail giant shows that a 9999 fine gold Valcambi bar weighing one ounce is priced at $2,139.29. "Walmart is selling gold and silver, are you awake? This is a financial revolution," commented a user on X platform. Against the backdrop of high inflation, gold has become the new favorite of American consumers, and major retail giants quickly sold out after putting gold on the shelves. Earlier this month, Costco Wholesale sold over $100 million worth of gold in the first quarter ending on November 26. Richard Galanti, CFO of Costco Wholesale, had previously stated in September that one-ounce gold bars usually sell out within a few hours after being listed on the official website. As the retail giants ignite the gold rush, the price of gold is soaring. Supported by market expectations of a rate cut by the Federal Reserve, spot gold has surged 14% since early October, reaching a new record of $2,088 per ounce this week.