Daily Gold Market Report

Gold typically struggles to find it’s way into the mainstream media, especially any kind of reports on the sale of physical bars and coins specifically.  The news surrounding Cosco’s release of Pamp brand name one ounce gold bars, and the magnitude to which it was covered across multiple media outlets, can only be seen as a net positive for the physical gold market.  Though we’d argue that Costco’s price isn’t consistent with it’s overall model of deeply discounted goods (at USAGOLD we would price these same bars – and any COMEX approved name bar for that matter – for about 1% less on average than Costo’s reported sales price), the rapid sales at Costco underscore the mainstream appeal of physical gold ownership amongst US-based investors. Costco’s decision to sell gold bars only further enhances the accessibility and awareness of owning physical gold to the general public, while bringing greater visibility to gold’s timeless role as a portfolio hedge.  And when paired with the already record high demand for physical gold seen over the past several years, contributes to a net positive outlook overall for the physical gold market, and by default, the price of gold itself.