2024-01-10 20:31:56
U.S. supermarkets sell real gold and react extremely enthusiastically
Costco, an American warehouse supermarket, has been selling real gold online as a marketing tool in recent months, and the response has been very enthusiastic. Although the seller charged a certain premium, it was still sold out as soon as it was launched.
Since members are required to subscribe, Costco has recruited many new members. Some people find it strange at first, why don’t you go to a bank or gold shop to buy gold instead of going to a supermarket? The reason is that there have been so many people wanting to buy real gold in recent years that places where ordinary people know that real gold is sold are often sold until the market is out of stock. People who are not well-informed may not necessarily know when new gold will be available.
Although there are goods for sale in some places, the premiums are unreasonably high, which makes buyers hesitate. Although Costco sells gold at a premium, Costco will provide a 4% shopping rebate. Furthermore, Costco has a good reputation and offers delivery services, so it is very popular among buyers. In this case, “selling with real gold” can also be used as a solicitation method.
In recent years, many developed countries have implemented loose monetary policies. The growth rate of currency far exceeds the growth rate of social wealth. This has made ordinary citizens realize that the ability of the currency in their hands to exchange for real assets will inevitably continue to decline. People then bought some real gold one after another as a means to combat the depreciation of banknotes.
This mentality is not only shared by ordinary people, but also by central banks of various countries. In recent years, they have changed their practice of continuously reducing their gold reserves and instead continued to increase their gold holdings. In October 2023, the gold reserves declared by central banks to the International Monetary Fund totaled 35,809.3 tons, an increase of 440.2 tons from October 2022.
Many European countries originally stored their gold in the United States, thinking it would be safer. However, in recent years, they have withdrawn these gold reserves from the United States and transported them back to their own countries for storage. Does this mean that some people in Europe are no longer trusting the United States?
The United States has always been unwilling to see the world love gold too much, fearing that it would damage the status of the US dollar as an international currency. Therefore, the United States regards gold as a secondary asset, so that depositing gold in banks earns no interest, while depositing banknotes can earn interest. . This doesn’t make sense. Banknotes were originally just notes that could be exchanged for gold. They could not be more valuable than gold!
Under such an arrangement, when interest rates rise, gold becomes less valuable. If interest rates turn downward, the cost of holding gold will fall, making more people willing to hold gold.
Now, the chances of U.S. interest rates peaking are getting higher and higher, the interest losses from holding gold will become less and less, and more and more people will be happy to hold gold. This will increase demand for gold, making gold bullish when interest rates fall.
In the past, once the international gold price rose to the level of US$2,000 an ounce, there would be an unusual force to push it down. However, this time the price of gold has risen above US$2,000 an ounce for more than a month and seems to have stabilized at the current level. This has led to an increase in the number of ordinary citizens who are brave enough to buy real gold. On the contrary, institutional investors are still more cautious; they are well aware that the United States has the ability to influence the market, and the level to which gold can rise depends on the attitude of the United States. As a result, the net position level of gold ETFs is still hovering at a low level. I believe that gold prices will be able to make further breakthroughs only when institutional investors also actively enter the market.
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