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https://www.kitco.com/news/article/2024-08-01/costcos-skyrocketing-gold-sales-signal-market-growth-potential-world-gold#google_vignette
Could Costco grow the gold market?
Some industry experts believe the Costco phenomenon could be a new defining moment for the gold market. In a commentary published in late April, Nicky Shiels, Head of Research & Metals Strategy at MKS PAMP, suggested that Costco’s bullion sales could lead to the same kind of increased demand seen when gold-backed exchange-traded funds were first introduced.
"The Costco Gold & subsequent media boom has already punched above its raw (fundamental) weight in influencing opinion; it alone is putting Gold as an asset class back on the map for new (that's the key word here) retail investors," Shiels said in the commentary. "Game-changing market moments come'n go. Some are just well-timed, coincidentally, or not. GLD was developed a couple of years after 9/11 and at the start of zero interest rates, easily creating a bigger path for investors to access the metal.”
“Costco has done more for sentiment and opening new channels when trust has completely broken down post-COVID,” she said.
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