In 2024 there was an increased demand for gold and that is thanks to a variety of factors, including central bank purchases and monetary policy changes. We also saw that prices reached all time highs across the year and retail interest has grown, especially with places like Costco seeing great demand for their 1 ounce gold bars even if they do sell at higher prices.
Will this demand continue? What will 2025 look like for gold and silver?
Costco is just one place that has been seeing a great demand, selling hundreds of millions per month allegedly. It's clear that it was a great idea to offer this product to the customers given the interest they've seen with it.
They've been selling out and seeing record sales. It's believed that overall the sales might be close to $1 billion or more.
Why would anyone want precious metals?
Various reasons have been given from consumers on why they would purchase something like a gold bar or silver coin. Among those reasons given are things like a hedge for inflation, economic uncertainty, geopolitical tensions, diversification, concerns over currency depreciation, worry over central bank actions, the increase in prices for precious metals, the ease and accessibility of products being offered, and more.
It has also been previously reported just a few months ago that a number of major banks had expected gold to continue its rise this year, but we'll have to wait and see if any new record highs come about and if that demand continues or if people go looking elsewhere.
This is posted for information purposes only, this is not financial advicerelated: https://www.cnbc.com/2024/04/09/costco-selling-up-to-200-million-in-gold-bars-a-month-wells-fargo-estimates.html
https://www.usatoday.com/story/money/2024/10/08/costco-gold-bars/75576833007/
https://www.marketwatch.com/story/why-theres-now-incredible-demand-for-physical-gold-in-new-york-markets-7c914e00
https://www.barrons.com/articles/costco-wholesale-gold-bars-prices-e1716043