Gold is hitting record prices this week, reaching above $3,500 per ounce for the first time on Tuesday and then hitting another milestone on Wednesday: $3,593.20 per ounce . Goldman Sachs predicted this week in a research note that gold prices could increase above $4,000 per ounce by mid-2026.

"Gold remains our highest-conviction long recommendation," Goldman Sachs stated in the note. In April, JPMorgan also predicted that gold prices would rise above $4,000 per ounce by the second quarter of next year.

And the effects are being felt far beyond Wall Street.

Wholesale retailer Costco, which sells up to $200 million worth of gold bars per month, began selling the commodity in 2023 when gold was at an average closing price of $1,943, per Macro Trends.

According to CNBC , i

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