All articles tagged with #gold bars
Originally Published 19 days ago — by Yahoo Finance
Costco's 1-ounce gold bars have surged in price by 108% over two years, from around $1,950 to over $4,100, driven by increased demand as gold remains a safe haven amid economic and geopolitical uncertainties, leading Costco to restrict purchases.
Originally Published 5 months ago — by Financial Times
The White House plans to issue an executive order to clarify the US's stance on tariffs applied to gold bars, following a recent ruling that classified certain gold bars as subject to tariffs, causing a surge in gold futures and market confusion.
Originally Published 5 months ago — by Bloomberg.com
The US has unexpectedly imposed tariffs on one-kilogram and 100-ounce gold bars, causing a surge in gold futures prices and disrupting global trade flows, especially affecting Switzerland's bullion exports and raising questions about the tariffs' application and legality.
Originally Published 5 months ago — by Financial Times
The US has imposed tariffs on one-kilo gold bars, affecting Switzerland's gold exports and disrupting the global bullion market, especially impacting Switzerland's refining industry and trade relations.
Originally Published 1 year ago — by CNN
Senator Bob Menendez was found guilty on multiple charges, with gold bars seized from his home being key evidence. The case highlights a broader trend of Americans investing in physical gold as a hedge against inflation and banking instability, with demand rising after recent bank failures. Despite the availability of gold ETFs, many prefer owning tangible gold for its perceived stability.
Originally Published 1 year ago — by Inside Edition
Costco has seen a surge in demand for gold bars, selling as much as $200 million worth every month, with one-ounce bars priced at $2,300 each. The high demand has led to a limit of five bars per customer, reflecting gold's status as a hedge against inflation. Personal finance advisor Humphrey Yang humorously shared his unexpected purchase of a gold bar at Costco, highlighting the unexpected nature of the trend.
Originally Published 1 year ago — by Yahoo! Voices
Costco has been selling gold bars alongside its usual bulk items, with sales now reaching up to $200 million worth of gold and silver each month. The surge in sales is attributed to increased interest in gold during times of economic turmoil and geopolitical concerns. Despite the popularity, analysts believe that Costco's profit from gold sales is likely minimal due to pricing and shipping costs. The Commodity Futures Trading Commission has cautioned that investing in precious metals can be highly volatile, and experts recommend allocating only a small portion of assets to gold investments.
Originally Published 1 year ago — by The New York Times
Costco has been selling gold and silver bars since October, with analysts estimating monthly sales of up to $200 million. The bars sell out quickly, leading to online discussions on how to purchase them. Costco attributes the surge in e-commerce sales to the sales of precious metals, and the one-ounce gold bars, available only to members, have been reported to sell for around $2,000.
Originally Published 1 year ago — by Fortune
Costco's sales of 24-karat gold bars are estimated to be between $100 million and $200 million per month, with the company also introducing silver coins to its online offerings. Despite the significant revenue, profits from these sales are low, but the move reinforces Costco's value position. The introduction of precious metals has boosted the company's e-commerce sales, and the popularity of the gold bars has led to positive customer ratings.
Originally Published 1 year ago — by USA TODAY
Costco is reportedly making $100 million to $200 million monthly by selling gold bars, priced at about $2,000 for 1-ounce bars of nearly pure 24-karat gold. Analysts view this move as reinforcing Costco's value position, despite it being a low-profit business due to pricing and shipping costs. The company also sells silver coins and has seen success in the metal market, coinciding with a 13.70% rise in gold prices since the start of 2024.
Originally Published 1 year ago — by Fox Business
After the success of selling gold bars, Costco has turned to selling 1-ounce Canada Maple Leaf Silver Coins made of 99.99% pure silver, priced at $679.99 for 25 tubes. The coins feature King Charles III on one side and a maple leaf on the other, with a face value of 5 Canadian dollars each. Despite some reports of scratches on the coins, they have sold out online, following the $100 million in gold bars sold last quarter.
Originally Published 1 year ago — by USA TODAY
Costco, known for bulk household products, is now selling precious metals like gold bars and silver coins to its members, with the gold bars selling out quickly and the silver coins also being in high demand. The retailer's CFO reported that the surge in e-commerce sales was led by sales of gold and silver. The move comes as the value of gold and silver is expected to climb in 2024 due to expectations of Federal Reserve interest rate cuts. Additionally, Costco's stock price fell after hitting an all-time high, with investors possibly anticipating a membership price increase, which the retailer hasn't done since 2017.
Originally Published 1 year ago — by Business Insider
Costco has expanded its precious metals business by selling packs of one-ounce silver coins for $625 and 24-karat gold bars priced at about $2,000, leading to significant e-commerce sales growth. The silver coins, featuring enhanced security features, have faced some criticism from customers who reported scratches and packaging issues upon delivery. Despite this, Costco's diverse range of merchandise, including luxury items and unexpected finds, continues to attract shoppers.
Originally Published 1 year ago — by Yahoo Finance
Costco's adjusted earnings per share of $3.92 beat estimates, driven by sales of gold bars and everyday essentials, with revenue at $58.44 billion, up 5.7% year over year. Same-store sales, excluding gas and foreign exchange, jumped 5.8%, with strong growth in the US, Canada, and international stores. Digital sales grew over 18%, fueled by demand for gold bars, silver, and appliances. Membership fees increased to $1.11 billion, and Costco's shares are up 55% over the past year, outperforming the S&P 500. However, shares pulled back 4.6% in pre-market trading as Wall Street views the stock as fairly valued at current levels.
Originally Published 1 year ago — by NBC News
Federal prosecutors allege that gold bars found in the residence of Sen. Bob Menendez were part of a bribery scheme, with some bars linked to a New Jersey developer. Prosecutors claim that Nadine Menendez, the senator's wife, falsely claimed the gold bars belonged to her deceased mother. The FBI also found nearly $500,000 in cash in the senator's home. Menendez and his wife, along with two co-defendants, have pleaded not guilty to bribery-related charges, which include accepting cash, gold bars, a Mercedes, mortgage payments, and other items of value. The senator is accused of using his position to influence foreign aid deals and help individuals with criminal cases.