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I bet the vast majority of gold being purchased at Costco is by Indian and Chinese immigrants who buy gold culturally and not as a response to global financial
by addicted 3y ago
I bet the vast majority of gold being purchased at Costco is by Indian and Chinese immigrants who buy gold culturally and not as a response to global financial events and movements.
- IG_Semmelweiss 3y agoWhy do Indian and chinese buy "gold culturally"? Would it be the same reasons african americans rejected the covid shots in greater numbers than the rest of the US population? Maybe they perceive something "culturally" , or maybe something historically....which has not been forgotten?
- BirAdam 3y agoThese are cultures of saving. Saving in fiat is typically worthless.
- lotsofpulp 3y agoThe Indians and Chinese buying gold are most likely much older and not as well educated or trusting of brokerage accounts and ETFs.