A Bar Of Pure Gold Is Now Worth $1 Million: What Can It Buy You?
Portfolio Pulse from Piero Cingari
Gold prices have surged past $2,500 per troy ounce, pushing the value of a 400-troy-ounce gold bar to $1 million. This increase is driven by expectations of Federal Reserve interest rate cuts and a weakening U.S. dollar. The SPDR Gold Trust (GLD) and Invesco DB USD Index Bullish Fund ETF (UUP) illustrate the inverse relationship between the dollar and gold prices. Retailers like Costco, Amazon, and Walmart are making gold more accessible to individual investors.
August 20, 2024 | 5:09 pm
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NEGATIVE IMPACT
The Invesco DB USD Index Bullish Fund ETF (UUP) is negatively impacted as the U.S. dollar weakens, inversely affecting gold prices.
UUP tracks the USD, which has weakened, inversely boosting gold prices and negatively impacting UUP.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Amazon is selling gold, making it more accessible to individual investors, which could enhance its market reach.
Amazon's entry into gold sales could expand its market reach and benefit from increased consumer interest in gold.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Costco is making gold more accessible to individual investors, potentially increasing its customer base and sales.
By selling gold, Costco could attract more customers and increase sales, benefiting from the current gold price surge.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The SPDR Gold Trust (GLD) is benefiting from the surge in gold prices, driven by expectations of Federal Reserve rate cuts and a weakening U.S. dollar.
GLD tracks gold prices, which have surged due to anticipated Fed rate cuts and a weaker USD, making gold more attractive.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90