All articles tagged with #safe haven investment
Gold futures reached a record settlement for the third consecutive session, driven by weak U.S. economic data raising expectations of a Federal Reserve interest rate cut, leading to declines in the U.S. dollar and Treasury yields and increasing safe-haven investment interest in the precious metal.
Costco Wholesale Corp. has reported that their 1-ounce gold bars are selling out within a few hours of being listed on their website, with a limit of two bars per member. The company did not provide further details on the type or cost of the gold bars. Gold is considered a safe-haven investment and a hedge against inflation, and factors such as central bank purchases and concerns about the US economy have supported its prices. Costco's quarterly results exceeded expectations, and the retail chain remains attractive to customers seeking refuge from rising prices.