Looking for something to add to your Costco cart along with the 30 rolls of toilet paper? How about a bar of gold?While not a typical outlet for the sale of precious metals, the members-only warehouse chain has seen its 1-ounce gold bars sell out faster than discounted...
Looking for something to add to your Costco cart along with the 30 rolls of toilet paper? How about a bar of gold?
That's slightly higher than the current market price of gold, which stood at about $1,835 per ounce Wednesday afternoon. “If someone’s going out to buy gold, that means they think that there’s some type of instability at the structural level of the market and/or the government itself,” added David Wagner III, head of markets and equities at Aptus Capital Advisors.
But not everyone agrees. Wagner says gold is “one of the worst things that you can ever own." Among the downsides, he argues, is that gold isn't the inflationary hedge many say it is, with inflation at times outpacing gold in recent decades, and that “there are more efficient ways to protect against the loss of capital," such as through derivative-based investments.
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