Simple. Fight food inflation with gold. Don’t want to lug it to your car, pay storage fees and insurance? There are plenty of ETFs that will do the heavy lifting for you. Costco has been selling up to $200 million worth of gold bars a month. The Daily Mail’s Neirin Gray Desai reports:
Costco is now estimated to be selling up to $200 million worth of gold bars a month – but have Americans who bought them made a profit?
Those who bought them last year or earlier this year before gold jumped in price will have made a profit, DailyMail.com research shows. Those who bought them more recently will have to wait and see.
The wholesale retailer started offering 1-ounce bars last summer and executives reported they were flying off of shelves.
In the months since, Costco embraced the trend by stocking an increasing range of bullion and coins and, according to Wells Fargo, is now selling between $100 million and $200 million worth of gold a month.
It comes as gold prices continue to beat record highs as inflation persistently batters the US economy. This year gold spot prices are up more than 13 percent.
Action Line: You buy gold, hoping it will lose value as the rest of your portfolio grows, but when inflation rears its ugly head, gold is there for you. When you want to talk about gold in your portfolio, I’m here.
