Costco's Golden Obsession: Bullion and Bulk Buying

by Louis Parks
  • Costco customers bought $100 million in gold last quarter.
  • The retail giant’s South African-made gold bars sell exclusively online.
Gold
(Photo: Bloomberg)
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Costco's CFO Richard Galanti spilled the golden beans recently, revealing that 1-ounce gold bars are the item du jour for savvy shoppers at Costco this holiday season. Move over, oversized teddy bears and industrial-sized tubs of mayo, high-purity gold has joined the party.

A Gold Rush in the Aisles

Customers are flocking to retail giant Costco, not just for their supersized cereal boxes, but for a more sophisticated investment – 1-ounce gold bars. Last quarter's sales hit an impressive $100 million, according to the company, proving that in the pursuit of riches, people aren't just buying in bulk, they're investing in gold, one bar at a time.

But, Wait! There's More

These South African-made gold bars come with a price tag of $2,069.99, a mere $35 above the market rate for an ounce of gold. Before you head to your local Costco with visions of gold bars dancing in your head, there's a catch – these treasures are exclusively available online. Only Costco members can get their hands on them.

Membership Has Its Privileges

Costco members can order up to two gold bars each, but there's no turning back once the deal is sealed – no returns on these precious metal investments. If you’re a member, move quickly, as these glittering treasures tend to vanish faster than the latest tech gadget at a Black Friday sale.

The Bigger Picture

As the price of gold flirted with $2,100 per ounce for the first time recently following a surge in demand, analysts speculated about the Fed cutting interest rates and a potential weakening of the dollar in the spring. The allure of gold remains strong for investors seeking refuge from dwindling yields on savings accounts and bonds. So, if you're in the market for gold bars, Costco might just be your unexpected one-stop shop.

Costco's CFO Richard Galanti spilled the golden beans recently, revealing that 1-ounce gold bars are the item du jour for savvy shoppers at Costco this holiday season. Move over, oversized teddy bears and industrial-sized tubs of mayo, high-purity gold has joined the party.

A Gold Rush in the Aisles

Customers are flocking to retail giant Costco, not just for their supersized cereal boxes, but for a more sophisticated investment – 1-ounce gold bars. Last quarter's sales hit an impressive $100 million, according to the company, proving that in the pursuit of riches, people aren't just buying in bulk, they're investing in gold, one bar at a time.

But, Wait! There's More

These South African-made gold bars come with a price tag of $2,069.99, a mere $35 above the market rate for an ounce of gold. Before you head to your local Costco with visions of gold bars dancing in your head, there's a catch – these treasures are exclusively available online. Only Costco members can get their hands on them.

Membership Has Its Privileges

Costco members can order up to two gold bars each, but there's no turning back once the deal is sealed – no returns on these precious metal investments. If you’re a member, move quickly, as these glittering treasures tend to vanish faster than the latest tech gadget at a Black Friday sale.

The Bigger Picture

As the price of gold flirted with $2,100 per ounce for the first time recently following a surge in demand, analysts speculated about the Fed cutting interest rates and a potential weakening of the dollar in the spring. The allure of gold remains strong for investors seeking refuge from dwindling yields on savings accounts and bonds. So, if you're in the market for gold bars, Costco might just be your unexpected one-stop shop.

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