Daily Gold Market Report

Posted on January 2, 2024 by Jake Farlow

From Wholesale to Gold Bars
Walmart Joins Costco in Precious Metals Market

(USAGOLD – 1/2/2024) Gold and silver prices are slightly higher in early trading Tuesday. Risk appetite in the marketplace is less robust on this first trading day of 2024. Gold is trading at $2067.20, up $4.22. Silver is trading at $23.92, up 12 cents. Walmart has joined Costco in offering a variety of gold products online, signaling a significant shift in the retail sector towards precious metals. This move comes as gold prices have surged to a new highs, fueled by aggressive speculations on Federal Reserve rate cuts. Walmart’s foray into this market follows Costco’s report of over $100 million in gold sales in a quarter, highlighting a strong consumer demand for gold bars. Critics suggest this trend represents a broader financial change, with major retailers capitalizing on the increasing interest in gold as an investment.

USAGOLD Comment: Walmart is not selling bullion direct to consumer. Vetting and navigating 3rd party sellers on Walmart’s marketplace is crucial to ensure you are purchasing from reputable sources, thus protecting against potential fraud and ensuring product quality and reliability.
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