At $1949 currently. Gold is currently selling at $1881.20 at time of this post. Gold seems to be appreciating at 15% this year and 55% the past two years. Strange that Costco would get into this, but there is obviously high demand.

https://www.dailymail.co.uk/yourmoney/consumer/article-12571173/Fools-gold-Expert-questions-Costcos-1-949-one-ounce-gold-bars-REALLY-good-deal-shoppers-rush-snap-amid-rampant-inflation-bank-failures.html

The political piece of this is that people are buying gold because there seems to be such concern over federal deficit spending and inflation.

Oops. Somebody else posted just ahead of me. Staff, please delete.

UTExan said:

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At $1949 currently. Gold is currently selling at $1881.20 at time of this post. Gold seems to be appreciating at 15% this year and 55% the past two years. Strange that Costco would get into this, but there is obviously high demand.

https://www.dailymail.co.uk/yourmoney/consumer/article-12571173/Fools-gold-Expert-questions-Costcos-1-949-one-ounce-gold-bars-REALLY-good-deal-shoppers-rush-snap-amid-rampant-inflation-bank-failures.html

The political piece of this is that people are buying gold because there seems to be such concern over federal deficit spending and inflation.

Oops. Somebody else posted just ahead of me. Staff, please delete.

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Just because you can buy Gold at the set price, now try to sell the Gold at the market "set" price.

If one gets 3/4 of the current price of the Gold, you did well because the commercial buyer has to make a profit.

So, THAT'S where Menendez got all those gold bars...

See...perfect explanation for it.

APHIS AG said:

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UTExan said:

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At $1949 currently. Gold is currently selling at $1881.20 at time of this post. Gold seems to be appreciating at 15% this year and 55% the past two years. Strange that Costco would get into this, but there is obviously high demand.

https://www.dailymail.co.uk/yourmoney/consumer/article-12571173/Fools-gold-Expert-questions-Costcos-1-949-one-ounce-gold-bars-REALLY-good-deal-shoppers-rush-snap-amid-rampant-inflation-bank-failures.html

The political piece of this is that people are buying gold because there seems to be such concern over federal deficit spending and inflation.

Oops. Somebody else posted just ahead of me. Staff, please delete.

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Just because you can buy Gold at the set price, now try to sell the Gold at the market "set" price.

If one gets 3/4 of the current price of the Gold, you did well because the commercial buyer has to make a profit.

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If one person is dumb enough to buy it at the "set" price, there's more out there. Just gotta find one of those folks...

Ag with kids said:

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So, THAT'S where Menendez got all those gold bars...

See...perfect explanation for it.

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LOL
He got those, a case of wine, package of pork and sock.

APHIS AG said:

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UTExan said:

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At $1949 currently. Gold is currently selling at $1881.20 at time of this post. Gold seems to be appreciating at 15% this year and 55% the past two years. Strange that Costco would get into this, but there is obviously high demand.

https://www.dailymail.co.uk/yourmoney/consumer/article-12571173/Fools-gold-Expert-questions-Costcos-1-949-one-ounce-gold-bars-REALLY-good-deal-shoppers-rush-snap-amid-rampant-inflation-bank-failures.html

The political piece of this is that people are buying gold because there seems to be such concern over federal deficit spending and inflation.

Oops. Somebody else posted just ahead of me. Staff, please delete.

---

Just because you can buy Gold at the set price, now try to sell the Gold at the market "set" price.

If one gets 3/4 of the current price of the Gold, you did well because the commercial buyer has to make a profit.

---

There are bid and ask prices set by the market for precious metals. Those are what you get, outside of going to some sketchy pawn shops or whatever. But most places that deal in precious metals buy and pay based on what the current market prices are.

Right now the bid for gold is $1859.10 - that's what bullion will be bought at per oz. The ask price is $1869.10, that's what it is sold at by dealers. Not much wiggle room to be had anywhere on those.

Bullion is fairly straight forward. Buying gold jewelry for anything other than looking pretty is a waste.

Costco gold bars such a hit they doing platinum now.

In other news the Dow Jones closes at all-time high of 42,352.75.

So we left to conclude that after $9 trillion printed in the past few years the world is flush with cash and there's simply nowhere to put it all.

Gold has been a great hedge against inflation, but now that everyone is buying at Costco, maybe thats a sign. Like the shoe shiner telling Rockefeller to buy stocks, or the barber pumping bitcoin. The Fed has 2 choices, crash equities to deflate or strengthen USD to deflate.

Maybe 2026 UUP calls are a better hedge now, either way.

I know people who are convinced that when the $#@& hits the fan, they'll magically be able to take gold bars and buy bread.

"And here's your change……………nothing!"

Shyt won't hit the fan until AFTER the USD loses global reserve status. That may not be too far away if the US keeps sanctioning other world powers into BRICS for Petro etc.

Until then it's inflation and stock market correction that make gold a good store of value. It's also harder for gov to get their grimey hands on.

Costco knew what they were doing, apparently.
Gold at $2654 today.
https://www.monex.com/gold-prices/

UTExan said:

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Costco knew what they were doing, apparently.
Gold at $2654 today.
https://www.monex.com/gold-prices/

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New Maryland State Police test kwerstion:
"If a person bought a bar of gold for $1749 and eventually sold it for $2654, how much money did they make?

A) That's racist.
B) $905
C) I was told there would be no math.
D) I'm calling the ACLU!"

APHIS AG said:

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UTExan said:

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At $1949 currently. Gold is currently selling at $1881.20 at time of this post. Gold seems to be appreciating at 15% this year and 55% the past two years. Strange that Costco would get into this, but there is obviously high demand.

https://www.dailymail.co.uk/yourmoney/consumer/article-12571173/Fools-gold-Expert-questions-Costcos-1-949-one-ounce-gold-bars-REALLY-good-deal-shoppers-rush-snap-amid-rampant-inflation-bank-failures.html

The political piece of this is that people are buying gold because there seems to be such concern over federal deficit spending and inflation.

Oops. Somebody else posted just ahead of me. Staff, please delete.

---

Just because you can buy Gold at the set price, now try to sell the Gold at the market "set" price.

If one gets 3/4 of the current price of the Gold, you did well because the commercial buyer has to make a profit.

---

My understanding is that any knowledgeable buyer will need to have the gold melted down to determine its purity. It makes sense that if they are buying it from an individual on the spot, it would need to go for a whole lot less to reflect the uncertainty.

BigRobSA said:

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UTExan said:

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Costco knew what they were doing, apparently.
Gold at $2654 today.
https://www.monex.com/gold-prices/

---

New Maryland State Police test kwerstion:
"If a person bought a bar of gold for $1749 and eventually sold it for $2654, how much money did they make?

A) That's racist.
B) $905
C) I was told there would be no math.
D) I'm calling the ACLU!"

---

A all day. C is the correct answer in law school.

eric76 said:

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APHIS AG said:

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UTExan said:

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At $1949 currently. Gold is currently selling at $1881.20 at time of this post. Gold seems to be appreciating at 15% this year and 55% the past two years. Strange that Costco would get into this, but there is obviously high demand.

https://www.dailymail.co.uk/yourmoney/consumer/article-12571173/Fools-gold-Expert-questions-Costcos-1-949-one-ounce-gold-bars-REALLY-good-deal-shoppers-rush-snap-amid-rampant-inflation-bank-failures.html

The political piece of this is that people are buying gold because there seems to be such concern over federal deficit spending and inflation.

Oops. Somebody else posted just ahead of me. Staff, please delete.

---

Just because you can buy Gold at the set price, now try to sell the Gold at the market "set" price.

If one gets 3/4 of the current price of the Gold, you did well because the commercial buyer has to make a profit.

---

My understanding is that any knowledgeable buyer will need to have the gold melted down to determine its purity. It makes sense that if they are buying it from an individual on the spot, it would need to go for a whole lot less to reflect the uncertainty.

---

The purity of an American Gold Eagle is already known, but there are devices that professionals use to confirm the purity.

BigRobSA said:

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UTExan said:

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Costco knew what they were doing, apparently.
Gold at $2654 today.
https://www.monex.com/gold-prices/

---

New Maryland State Police test kwerstion:
"If a person bought a bar of gold for $1749 and eventually sold it for $2654, how much money did they make?

A) That's racist.
B) $905
C) I was told there would be no math.
D) I'm calling the ACLU!"

---

Well done!

Burnsey said:

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eric76 said:

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APHIS AG said:

---

UTExan said:

---

At $1949 currently. Gold is currently selling at $1881.20 at time of this post. Gold seems to be appreciating at 15% this year and 55% the past two years. Strange that Costco would get into this, but there is obviously high demand.

https://www.dailymail.co.uk/yourmoney/consumer/article-12571173/Fools-gold-Expert-questions-Costcos-1-949-one-ounce-gold-bars-REALLY-good-deal-shoppers-rush-snap-amid-rampant-inflation-bank-failures.html

The political piece of this is that people are buying gold because there seems to be such concern over federal deficit spending and inflation.

Oops. Somebody else posted just ahead of me. Staff, please delete.

---

Just because you can buy Gold at the set price, now try to sell the Gold at the market "set" price.

If one gets 3/4 of the current price of the Gold, you did well because the commercial buyer has to make a profit.

---

My understanding is that any knowledgeable buyer will need to have the gold melted down to determine its purity. It makes sense that if they are buying it from an individual on the spot, it would need to go for a whole lot less to reflect the uncertainty.

---

The purity of an American Gold Eagle is already known, but there are devices that professionals use to confirm the purity.

---

Ever hear about counterfeits?

BigRobSA said:

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UTExan said:

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Costco knew what they were doing, apparently.
Gold at $2654 today.
https://www.monex.com/gold-prices/

---

New Maryland State Police test kwerstion:
"If a person bought a bar of gold for $1749 and eventually sold it for $2654, how much money did they make?

A) That's racist.
B) $905
C) I was told there would be no math.
D) I'm calling the ACLU!"

---

Hold on professor. What about the unions? And you got to pay off 10% to the big guy. Taxes and fees, government gets their cut too. And the bookies.