Why Costco And Millennials Are Suddenly All About Gold

Millennials get a bad rap for killing a whole bunch of industries — cable television, landline phones, department stores.

But there is one super old industry that’s seeing a big bounce from the millennial generation. in, fact, it’s so old that it goes back to ancient egypt.

Gold.

Millennials actually hold the largest allocation to gold in their portfolios when compared to other generations.

Investors in that demographic hold an average of 17 percent of their portfolios in gold, compared to about 10 percent for baby boomers, according to state street data from 2023.

And so far, in 2024, gold has been a solid bet. Prices have soared to record highs.

So what’s behind the sudden interest in gold? and why is Costco of all places having trouble keep these small gold bars on store shelves?

Host: Pippa Stevens
Producer: Kasey O'Brien
Edited by: Tim Hurt
Associate Producer: Micah Washington
Graphics by: Christina Locopo and Jason Reginato
Supervising Producer: Jeff Morganteen

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How Costco And Record-High Prices Turned Gold Into A Hot Investment

[tahirisaid]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[MOFOSGTFO]

“Gold is money. Everything else is credit” -J.P. Morgan

[JA-vznl]

When CNBC starts talking about buying gold, you know it's the top and best to start selling. Should've bought a long time ago

[noneshere]

Gold has outperformed USD treasury bonds by 75% since 2020.
US paper dollar keeps devaluing like melting ice.

[callmesamrat]

Gold is a classical instrument of wealth. It is always valuable whatever the world situation will be.

[TDKK]

gold isn't an investment. it's a store of wealth

[joostonline]

Gold is a store of value
Bitcoin is a speculation

[Boblol]

Hardly any of the millennials I know even invest and out of those who do don’t buy gold

[JonathanMahadeo]

Store of value my ass, do people even know where they would sell their gold? Do they even know what the broker fees are? Not to mention the storage fees or how Spot can be manipulated.

[Starship]

Gold really mirroring what is happening globally. If economy in good shape why all the debt and lack of savings. Stuff your emergency money in mattress with gold not dollars that devalue daily

[alexroberto]

I got my first gold coin last year! It's cool but It's only 1/10 of an ounce. It just kinda sits there. At least i can use the sterling silver fork and spoon I got to eat with.

[kimberlyjones]

Thank you for the content!! All we need is the right advice on how to invest in crypto and we will be set for life, I made over $80k from trading the crypto market this year

[EmanuelAmbriz-mlnk]

It's been dumping and pumping in this range for ages! It's technically just going sideways, sideways means generally stagnant. More emphasis should be put into day trading, as it less affected by the unpredictable nature of the market. Trading has been going smooth for me as I managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Kerrie Farrell, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape...

[FriendlyBirdy]

Its because they sell it at fair price. Also they are an trusted brand. Since they have stores nationwide, it also made it easier to buy it.

[xanokothe]

Everyone is bullish on gold, time to sell

[henryjohnson-ville]

Gold is too expensive so I’m a silver bug. $200 gets you 5, 6 one-ouncers. 😄

[hudsonfrank]

Remember in the 2008 crash were people where hording dimes that had silver in them? Only to find out they're still face value.

[hopjvml]

Why CNBC is suddenly about this story? Becuse gold is at peak prices again for the third time ever. Probably the worst* time in history to buy gold as an investment. HEY MILLENNIALS, YOU SHOULD BUY SOME GOLD! EVERYONE ELSE IS 😂😂😂

[maldzmahalko]

Its easy to trade gold cause theres always someone is willing to trade and trust gold

[Louisbrus]

The rich stay rich by spending like the poor and investing without hesitating then the poor stay poor by spending like the rich yet not investing like the rich