The wholesale shopping giant, Costco, has added an unexpected item to its already extensive inventory: genuine gold bars. This move is taking the shopping experience to an entirely new level.
Now, shopping mall members have the chance to purchase gold with just a few clicks. However, there is a catch. These golden treasures are exclusively available to members, and each member can only purchase two one-ounce gold bars. So, if you have ever dreamed of owning gold, this might be your chance.
You can buy pure 24-karat gold on Costco’s website
The available gold bars come in two varieties: the elegant PAMP Suisse Lady Fortuna Veriscan and the reliable Rand Refinery. Both are made of pure 24-karat gold and are listed on Costco’s website for just under $2,000. However, you must act fast, as these coveted treasures often sell out within hours of being posted online. The gold bars are brand new and come with certificates of authenticity.
Costco’s Chief Financial Officer, Richard Galanti, recently reported to investors that gold bars are selling like hotcakes. Demand is so high that these sought-after items frequently fly off the virtual shelves in record time. Nevertheless, there’s a small caveat: to view the price of these gold bars online, you must be a Costco member.
What are the different membership levels and their respective costs?
Membership comes with an annual cost ranging from $60 to $120, depending on your chosen level. It’s a small price to pay for the chance to join Costco’s gold rush.
Additionally, be aware that these products are non-refundable and will be delivered directly to your door via UPS.
What is the reason behind Costco’s decision to sell gold bars?
The recent surge in the value of precious metals, particularly gold, has led to this gold fever at Costco. Gold prices have skyrocketed from around $1,200 per ounce in 2019 to a staggering $1,825 to date, reaching its peak in April of this year at $2,026 per ounce.
This uptick is due to various market factors, including the law of supply and demand, interest rates, market volatility, and investor risk perception. Although there isn’t a direct correlation between gold and inflation, experts suggest that people are turning to gold as a haven in times of economic uncertainty.
Costco has ushered in a new era in retail shopping with its unusual offering of gold bars. If you’ve ever dreamed of owning a piece of the glittering golden treasure, this could be your moment. Hurry, because they might disappear before you know it!