December 2, 2023

Bobbys Brane

Bobbys Brane – Business & Tech Blog

Costo sells out of gold bars, but is it a better investment than Bitcoin? By Cointelegraph

1 min read

Costco (NASDAQ:) has made headlines this week after it rapidly sold out of gold bars. In times of economic uncertainty and rising inflation, it’s no surprise that investors are turning to traditional safe-haven assets like gold. The question is whether gold’s performance will eventually catapult its price above $2,050, a level last seen in early May.

In the past 12 months, the price of gold has surged by an impressive 12%. This rally has been partially fueled by the Federal Reserve’s efforts to combat inflation by maintaining higher interest rates, a move that benefits scarce assets like gold. While gold’s performance is commendable, it’s essential to put it into perspective.

Gold (yellow) vs. (orange), S&P 500 (green) and WTI oil (black), last 12 months. Source: TradingViewGold (yellow) vs. Bitcoin (orange), S&P 500 (green) and WTI oil (black), Feb/Mar 2020. Source: TradingView200 years of gold production. Source: Visual Capitalist

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