Americans Pour Into Pawnshops, Selling Gold Jewelry As Price Surges [zero hedge]
Costco Wholesale Corporation (COST)
Last costco wholesale corporation earnings: 3/5 04:15 pm
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Source: zero hedge
Americans Pour Into Pawnshops, Selling Gold Jewelry As Price Surges With gold trading at record highs, cash-strapped Americans are heading to pawnshops to sell their jewelry. “People are using gold as an ATM they never had,” King Gold & Pawn and Empire Gold Buyers owner Gene Furman tells Bloomberg . He says gold-selling traffic at his 5th Avenue location in New York City has more than tripled as gold has surged 17% off its 2024 low in February to now trade near $2,400 an ounce. While some just want to take advantage of the price surge, others are compelled by price inflation that's put them in a financial bind. "Prices are high, and I need cash,” 30-year-old IT specialist Branden Sabino tells Bloomberg, citing the burden of higher prices for food, rent and car insurance. A 55-year-old woman said she needed the money to pay for gas. Most are selling jewelry, including many offloading inherited items with sentimental value that's now apparently eclipsed by all-time highs in gold . House
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COST
Earnings
- 3/7/24 - Beat
COST
Sec Filings
- 4/18/24 - Form 4
- 4/17/24 - Form 144
- 4/10/24 - Form 8-K
- COST's page on the SEC website