Costco's Gold Bar Sales Skyrocket to $100 Million in Latest Quarter
Costco has sold $100 million worth of gold bars in its most recent quarter, as demand for the precious metal rises amid global economic uncertainty. The retailer began selling 1oz bars of 24-karat gold exclusively online in September, with each release selling out within hours. The exact price of the gold bars, which are reserved for Costco members, is reported to be just under $2,000, slightly below the current market price of gold. Costco also sells other expensive items, including autographed baseball cards, which are refundable.