Costco now sells gold bars. Are they a good investment?
Costco now sells gold bars. Are they a good investment?
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This is the best summary I could come up with:
Canadians can now buy gold bars at Costco, but one financial expert warns it might be an investment with limited return — unless you're planning to flee the country.
He explained that "gold is awesome for people who have really unstable currencies," and can represent an attractive, stable investment in volatile economies.
CBS reported last week that Richard Galanti, chief financial officer at Costco, said the bars were selling out within hours every time inventory was added to the company's website.
Now, the biggest group of people who have those fears are those who were adults during the late '70s and early '80s, and they remember very specifically what happened when interest rates started hitting 18, 20 per cent for mortgages.
Go back to the yield … if you happen to have disposable income [and put it] into a savings account, you can get a decent return in interest.
Its advantage, strictly speaking, is that it is not correlated very much with stocks, bonds, real estate and other things people owe.
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Its advantage, strictly speaking, is that it is not correlated very much with stocks, bonds, real estate and other things people owe.
Not that the bot made a mistake, but this is wrong...
Gold drops like a rock when markets take a shit. It usually bounces back quickly -- often before stocks recover, giving you a chance to buy cheap on the dip, and sell at a profit three months later, and pick up some of the stocks that haven't recovered yet... But it VERY MUCH moves in sync with the market during times of crisis.