Gold bars selling fast at Costco, bringing in as much as $200M a ...
(Gray News) – Costco has brought in as much as $200 million a month by selling gold bars, according to analysts at Wells Fargo CNBC reported.
The wholesale retailer began selling the 1-ounce, 24-karat gold bars for just under $2,000 each to members in 2023.
They’re available on Costco’s website and come individually stamped with a unique serial number.
A Costco top executive said the gold bars typically sell out within a couple of hours after landing on the website.
The bars come from the South African mining company Rand Refinery and Swiss precious metal supplier PAMP Suisse.
The gold is non-refundable and ships via UPS.
According to Forbes, gold prices are up 25% over last month, topping $2,300 per troy ounce for the first time ever.
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