Monthly Archives: January 2024
Daily Gold Market Report
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.
Today’s top gold news and opinion
1/2/2024
Christian Brenner: And That’s When Gold Comes In (FINEWS)
Gold is increasingly being used as a hard asset, like cash, as a backup to protect against IT failures and cybercrime
China’s net gold imports via HK rise (Business Recorder)
Total gold imports via Hong Kong were up 37% at 46.049 tons compared to last month and up 120.9% from last year
On New Year’s Eve 1974, You Could Own Gold Again (Forbes)
On December 31, 1974, the federal government once again permitted Americans to own gold.