Costco says gold bugs are helping drive up its online sales

Costco made only a single, terse mention of precious metals in its latest earnings call, but it reinforced that analysts were on to something when they flagged strong demand for the retailer's gold bars and silver coins this spring. 'Total e-commerce sales growth in the quarter was led by gold and silver bullions, gift cards and appliances,' Costco Chief Financial Officer Gary Millerchip told investors Thursday, after the company reported a 20.

'Gold traditionally becomes a sort of fear trade,' said Lee Baker, founder of the planning firm Apex Financial Services and president of AARP Georgia. 'Economically, we're in pretty good shape. But that belies the emotional angst that many people are feeling.' That anxiety — driven by everything from inflation to geopolitical tensions — has helped power a record surge in gold prices, which hit $2,450 per ounce in May, up from $2,100 at the beginning of March.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The class of 2024 faces a tougher job market than last year's, but it could be worse.J.J. McCorvey is a business and economy reporter for NBC News.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »

Want to drink for cheap this summer? Stay homeJ.J. McCorvey is a business and economy reporter for NBC News.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »

The lunch rush is dead as Americans live for the weekendJ.J. McCorvey is a business and economy reporter for NBC News.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »

Summer 2024 sees vehicle discounts surge as car buying conditions improveJ.J. McCorvey is a business and economy reporter for NBC News.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »