Trump: Primary GOP Voting With Dems; Banks Weigh Joint Stablecoin; Rep. Sherrill Grilled on Stock Trades

Costco Announces Two-Bar Per 24-Hour Limit On Gold Purchases As Bullion Sales Soar

05/19/2025

Costco Wholesale Corporation introduced a new limit to how much gold its members can buy on Friday, May 16.

Customers attempting to buy three or more of the company’s one-ounce gold bars will now receive the message “Limit of 1 transaction per membership, with a maximum of 2 units per 24 hours.”

Earlier this year, Costco members could purchase five gold bars per 24 hours, and when the wholesale retailer began selling bullion bars in 2023, members could make two purchases.

Costco has sold more than $100 million worth of gold bars since sales began two years ago. During that time, the spot gold price has skyrocketed, nearly doubling from around $1,810 per ounce in February of 2023 to a new all-time high just shy of $3,500 last month.

The store’s bullion products continue to drive its online sales, with the company stating in September that its gold sales increased by “double digits” over the last three months.

During the Sept. 26 conference call, Costco CFO Gary Millerchip said that gold was a “meaningful tailwind” to e-commerce sales in the quarter. The store’s online gold bullion products often sell out rapidly.

** Information contained within this email should not be construed as Legal, Accounting, Tax or Investment advice. Patriot Gold Group is a Gold & Silver Dealer, representatives are NOT Licensed Financial Planners and do NOT give investing or tax advice.

Stocks Are At A Risk Of A Drop Of Nearly 20%, Says Goldman Sachs. Here’s The Trigger.

Recession is a big risk for this market, says the bank

May 9, 2025

S&P 500 futures have risen about 18% since diving to an intra-session low on April 7. A couple more decent days and they’ll be registering a bull market again.

Traders clearly reckon the stock market overacted a month ago to the potential damage the Trump trade war may cause. Trump’s 90-day pause on his “reciprocal” tariff plan was a significant help in that regard.

But Goldman Sachs remains concerned.

The bank’s chief political economist Alec Phillips has just warned that the U.S President’s comments surrounding the trade deal with the U.K. suggest many countries ultimately will face notably higher tariffs than they did before Trump’s re-election.

Goldman’s chief economist Jan Hatzius and chief global equity strategist Peter Oppenheimer appeared notably cautious.

Still, there is “a very significant risk of a recession,” says Hatzius.

A recession may then see the Fed deliver 200 basis points of rate cuts from here, according to Hatzius.

The U.S accounts for a record 70% of global stock market valuation and that is likely to fall.

** Information contained within this email should not be construed as Legal, Accounting, Tax or Investment advice. Patriot Gold Group is a Gold & Silver Dealer, representatives are NOT Licensed Financial Planners and do NOT give investing or tax advice.

About Patriot Gold Group CEO Jack Hanney

Paul Tudor Jones Says U.S. Stocks Will Fall To New Lows – Even If Trump Dramatically Dials Back China Tariffs

Published: May 6, 2025

“We’ll probably go down to new lows even when Trump dials back China to 50%.”

– Paul Tudor Jones

That’s Paul Tudor Jones, the billionaire hedge-fund founder, sharing his outlook for the U.S. stock market during an interview with CNBC on Tuesday.

The upshot? U.S. stocks are likely going lower before the end of the year, even if President Donald Trump dials back tariffs on Chinese imports.

“For me, it’s pretty clear. You have Trump, who’s locked in on tariffs. You have the Fed, who’s locked in on not cutting rates. That’s not good for the stock market,” Jones said.

“We’ll probably go down to new lows even when Trump dials back China to 50%.”

During an interview with NBC’s “Meet the Press,” Trump said he would likely lower tariffs on Chinese goods “at some point.”

But even if Trump decided to cut the tariff rate on China to less than half of its current level, levies at that level could still substantially impede the pace of economic growth, Jones said.

“He’ll dial it back to 50% or 40%, whatever. Even when he does that – it’d be the largest tax increases since the 60s,” he said.

** Information contained within this email should not be construed as Legal, Accounting, Tax or Investment advice. Patriot Gold Group is a Gold & Silver Dealer, representatives are NOT Licensed Financial Planners and do NOT give investing or tax advice.