Why Costco And Millennials Are Suddenly All About Gold

CNBC

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 » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to be a successful, confident communicator? Take CNBC’s new online course Become an Effective Communicator: Master Public Speaking. We’ll teach you how to speak clearly and confidently, calm your nerves, what to say and not say, and body language techniques to make a great first impression. Preregister today and use code EARLYBIRD for an introductory discount of 30% off through July 10, 2024: https://cnb.cx/4aryNgM Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC How Costco And Record-High Prices Turned Gold Into A Hot Investment