Gold prices have surged to an all-time high on Friday, as growing tensions in the Middle East prompted investors to seek refuge in safe-haven assets.
The price of one ounce of gold reached $2,419.79 and was eased by 1.5% to $2,336.87 per ounce after hitting a record high on Friday.
Gold prices have surged to an all-time high on Friday, as growing tensions in the Middle East prompted investors to seek refuge in safe-haven assets. The price of one ounce of gold reached $2,419.79 and was eased by 1.5% to $2,336.87 per ounce after hitting a record high on Friday.
Costco is selling up to $200 million worth of gold and silver each month.
Customers are trading advice online about how to get the bars before they sell out.
The price of one-ounce, 24-karat gold bars varies based on market rates.
Accuracy
Gold prices rose above $2,400 per ounce to an all-time high on Friday.
Deception
(30%)
The article is misleading in several ways. Firstly, it states that Costco may be selling up to $200 million worth of gold and silver each month. However, this statement is not supported by any evidence provided in the article. Secondly, the article quotes Richard Galanti stating that one-ounce gold bars sell out quickly online within a few hours. This statement contradicts other sources such as The Wall Street Journal which reports shoppers purchasing them for around $2000 in December. Lastly, the article does not disclose any sources or provide any evidence to support its claims.
The article states that Costco may be selling up to $200 million worth of gold and silver each month. However, this statement is not supported by any evidence provided in the article.
Fallacies
(85%)
The article contains several fallacies. Firstly, the author makes an appeal to authority by stating that Costco is selling up to $200 million worth of gold and silver each month according to a Wells Fargo analysis without providing any evidence or citation for this claim. Secondly, the author uses inflammatory rhetoric when they describe customers as
flocking
trading advice online about how to get them.
Bias
(85%)
The article contains examples of religious bias and monetary bias. The author uses language that depicts one side as extreme or unreasonable by stating that the gold bars are being sold to 'white supremacists online' who celebrate a reference to a racist conspiracy theory.
<br><br>Online forums and Reddit threads have cropped up where customers give one another advice on how to purchase the bars before they sell out.
Customers Flock to Costco to Buy Gold Bars
> U.S.WorldBusinessArtsLifestyleOpinionAudioGamesCookingWirecutterThe Athletic Advertisement SKIP ADVERTISEMENT You have a preview view of this article while we are checking your access. When we have confirmed access, the full article content will load.<br><br>Costco may be selling up to $200 million worth of the bars each month, according to a Wells Fargo analysis.
Gold prices rose above $2,400 per ounce to an all-time high on Friday
Spot gold eased 1.5% to $2,336.87 per ounce after hitting a record high of $2,419.79.
U.S. gold futures settled 0.1% higher at $2,374.
Accuracy
Gold prices rose above $2,400 per ounce to an all-time high on Friday.
Deception
(30%)
The article is deceptive in several ways. Firstly, the author claims that gold prices rose above $2,400 per ounce to an all-time high on Friday. However, this statement is false as gold reached its highest price of $2,419.79 earlier in the day before closing at a lower price of $2,336.87.
The article states that gold has pushed back against some data that should have typically been negative but does not provide any specific examples or evidence to support this claim.
The article claims that gold prices rose above $2,400 per ounce to an all-time high on Friday but this is false as it reached its highest price of $2,419.79 earlier in the day before closing at a lower price of $2,336.87.
Fallacies
(80%)
The article contains several examples of logical fallacies. The author uses an appeal to authority by citing the opinions of experts in the field without providing any evidence or reasoning for their claims. Additionally, there are instances where the author presents information that is not relevant to the topic at hand and does not contribute to a clear understanding of gold's price movements.
The article contains several examples of logical fallacies. The author uses an appeal to authority by citing the opinions of experts in the field without providing any evidence or reasoning for their claims. Additionally, there are instances where the author presents information that is not relevant to the topic at hand and does not contribute to a clear understanding of gold's price movements.
Bias
(80%)
The article reports on the surge in gold prices due to growing tensions in the Middle East. The author uses quotes from experts who attribute this increase to investors seeking safe-haven assets. However, these same experts also mention that other factors such as a strong US dollar and rising Treasury yields are contributing to this trend.
Gold has pushed back against some data that should have typically been negative
What's really telling about the strength of gold is the U.S. dollar index and Treasury yields are climbing, yet gold continues to rally strongly
Costco is selling $200 million in gold and silver monthly.
Interest in gold investing has been climbing over the last couple of years, with demand for gold hitting an 11-year high in 2023.
Gold and silver can hedge against inflation as their prices tend to rise when the purchasing power of paper currencies declines.
Incorporating gold and silver into your investment portfolio can help diversify your holdings and reduce overall risk of losses, as these assets tend to move independently of traditional investments.
Both gold and silver are finite resources with limited global production, which creates upward pressure on prices when demand continues to grow.
Accuracy
Costco is selling $200 million in gold and silver monthly. Here's why you should buy in now.
The demand for Costco’s precious metals has been so high that the retailer had trouble keeping them in stock, with inventory selling out within minutes of being added to their website.
Both gold and silver are finite resources with limited global production, which creates upward pressure on prices when demand continues to grow.
Over the long term, gold and silver prices have historically demonstrated the ability to appreciate, making them a smart choice for long-term investing.
Deception
(50%)
The article is deceptive in several ways. Firstly, the title and body of the article suggest that Costco is selling $200 million worth of gold and silver monthly. However, this information is not supported by any data or evidence presented in the article. The only specific figure mentioned is a recent estimate from Wells Fargo stating that Costco sells between $100 million and $200 million worth of gold and silver each month. This suggests that the author may have exaggerated or misrepresented the actual sales figures to make their argument more compelling.
The author uses a quote from Wells Fargo stating that Costco sells between $100 million and $200 million worth of gold and silver each month to support their argument about the success of Costco's precious metal sales venture. However, this information is not specific enough to determine whether or not the retailer has actually sold this amount.
The title of the article states 'Costco is selling $200 million in gold and silver monthly.' However, this information is not supported by any data or evidence presented in the article.
The author uses a quote from an expert stating that 'gold and silver are assets that can offer protection against inflation.' This statement implies that gold and silver have inherent value as a hedge against inflation, but it does not provide any evidence to support this claim.
Fallacies
(85%)
The article contains several fallacies. The author uses an appeal to authority by stating that Costco's precious metal sales are successful and in demand without providing any evidence or data to support this claim. Additionally, the author makes a false dilemma by suggesting that investors must choose between investing in gold and silver or not at all, when there may be other investment options available. The article also contains inflammatory rhetoric by stating that inflation is high and will continue to rise without providing any evidence or data to support this claim.
Costco's precious metal sales are successful and in demand
Investors must choose between investing in gold and silver or not at all
Bias
(85%)
The article is promoting the idea of investing in gold and silver as a hedge against inflation. The author uses language that suggests there will be future increases in value due to limited supply and growing demand from investors and central banks.
> Inflation reached a 40-year high of 9.1% in June 2022, and while it has started to moderate, inflation remains elevated.
Costco now sells up to $200 million a month in gold and silver
The price of one-ounce, 24-karat gold bars varies based on market rates.
Gold prices rose above $2,400 per ounce to an all-time high on Friday, as growing tensions in the Middle East prompted investors to seek refuge in safe-haven assets.
Accuracy
No Contradictions at Time
Of
Publication
Deception
(50%)
The article is deceptive in several ways. Firstly, the author claims that Costco sells $100 million to $200 million worth of gold and silver a month. However, this information is not supported by any data or sources provided in the article. Secondly, the author states that sales have climbed partly because of Costco's aggressive pricing and high level of customer trust. This statement implies that Costco has been able to increase its sales due to these factors when there is no evidence presented to support this claim. Thirdly, the author claims that gold bars are a good investment as they are a traditional hedge against inflation and stock market volatility. However, this statement is not supported by any data or sources provided in the article.
The article states that Costco sells $100 million to $200 million worth of gold and silver a month. However, there are no sources or data presented to support this claim.
Fallacies
(70%)
The article contains an appeal to authority fallacy by stating that Costco's aggressive pricing and high level of customer trust are contributing factors to the spike in gold sales. Additionally, there is a dichotomous depiction of gold as both a hedge against inflation and stock market volatility.
Costco's aggressive pricing and high level of customer trust contribute to the spike in gold sales.
Bias
(85%)
The article contains examples of religious bias and monetary bias. The author uses the phrase 'gold is a traditional hedge against inflation' which implies that it has been used for this purpose historically and therefore should be considered as such now. This statement shows a lack of objectivity in the reporting, as there are many other factors that could affect gold prices besides just its ability to hedge against inflation. Additionally, the author mentions 'Costco's aggressive pricing and high level of customer trust', which implies that Costco is somehow more reliable or trustworthy than other retailers when it comes to selling precious metals. This statement shows a lack of objectivity in the reporting as well.
Gold bars at Costco are selling for about 2% above spot price
The value of gold has grown 14.5% since January
Site
Conflicts
Of
Interest (50%)
The author has a financial interest in the topic of gold and silver sales as they are selling $200 million a month in these products. The article also mentions specific brands such as PAMP Suisse Lady Fortuna Veriscan bar which could indicate that the author or site may have an affiliation with this brand.
$2,160 per ounce
$2,353.15 per ounce
Costco now sells up to $200 million a month in gold and silver
Author
Conflicts
Of
Interest (50%)
The author has a conflict of interest on the topic of gold and silver sales as they are selling these products through Costco. The article mentions that Costco now sells up to $200 million a month in gold and silver which could be seen as promoting their own product.
$2,160 per ounce
Costco now sells up to $200 million a month in gold and silver
