Costco Wholesale Corp. was selling one ounce bullion bars on Sept. 28 for a 1.6% premium to spot gold’s price — below what precious metals retailers charge.
Photographer: Clark Hogin/BloombergCostco’s Gold Bars Fly Off Shelves as Bullion Prices Smash Records
A survey of stores across 46 states revealed how hard it is for the retailer to keep its gold products stocked even as prices for the metal continue to climb.
Gold’s breathtaking surge this year to repeated record highs hasn’t stopped bullion from flying off shelves at Costco Wholesale Corp. stores across the US.
Costco’s one-stop shopping convenience is bringing gold buying to the masses by offering prices that undercut traditional precious metals dealers and extra rewards for its most loyal customers. Add to that gold’s appeal as a safe haven and hedge against inflation, and it’s easy to see why bullion buyers are turning to the warehouse retailer.