🚀 Costco's Gold Sales Surging

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Costco's foray into gold sales has quickly become a lucrative revenue stream, with Wells Fargo analysts estimating monthly sales between $100 to $200 million. Since its introduction in late summer 2023, Costco's venture into selling nearly pure 24-karat gold bars had garnered around $100 million in sales by November of the same year. The retail giant offers these bars at a modest markup of approximately 2%, closely tracking the prevailing market rate of $2,357 an ounce. This surge in gold sales comes at a time when gold prices have risen over 13% in 2024, driven by inflation and economic uncertainties in the U.S. Despite the success, Costco imposes purchase limitations and operates on relatively narrow profit margins from gold sales.

2. Intel's launch of the Gaudi 3 AI chip marks its attempt to carve a niche in the competitive AI market, positioning itself as a formidable rival to Nvidia's H100 GPU. Designed to be more energy-efficient and faster, Gaudi 3 is available in multiple configurations, including a multi-chip board and a single-card version. This introduction reflects the increasing need for cost-effective AI processing options, with prominent companies such as Dell and Hewlett Packard Enterprise planning to integrate Gaudi 3 into their product lineup, challenging Nvidia's current market dominance.

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4. Headlines

   1. Boeing only delivered 81 planes last quarter as consumers and airlines grow increasingly concerned about the quality of their planes.

   2. Housing and gas prices continue to skyrocket, accounting for more than 50% of the increase in living costs.

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