Why Costco And Millennials Are Suddenly All About Gold

Millennials get a bad rap for killing a whole bunch of industries — cable television, landline phones, department stores.

But there is one super old industry that’s seeing a big bounce from the millennial generation. in, fact, it’s so old that it goes back to ancient egypt.

Gold.

Millennials actually hold the largest allocation to gold in their portfolios when compared to other generations.

Investors in that demographic hold an average of 17 percent of their portfolios in gold, compared to about 10 percent for baby boomers, according to state street data from 2023.

And so far, in 2024, gold has been a solid bet. Prices have soared to record highs.

So what’s behind the sudden interest in gold? and why is Costco of all places having trouble keep these small gold bars on store shelves?

Host: Pippa Stevens
Producer: Kasey O’Brien
Edited by: Tim Hurt
Associate Producer: Micah Washington
Graphics by: Christina Locopo and Jason Reginato
Supervising Producer: Jeff Morganteen

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How Costco And Record-High Prices Turned Gold Into A Hot Investment