Costco's Golden Obsession: Bullion and Bulk Buying

Costco’s Golden Obsession: Bullion and Bulk Buying

Time Stamp: December 18, 2023 6:41 AM
Source Node: 3022119

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.

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.

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.

Time Stamp:

More from Finance Magnates