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Maybe Costco should stock gold futures contracts as well
Costco Is Selling Out of Small Gold Bars 'Within a Few Hours'
By Bill Peters
MarketWatch, New York
Wednesday, September 27, 2023
Costco Wholesale Corp. sells lots of things you wouldn't expect from a big-box retailer: caskets, caviar, six-pound tubs of Nutella. Add to that list 1-ounce bars of gold, which the company said today were selling out within a matter of hours.
"I've gotten a couple of calls that people have seen online that we've been selling 1-ounce gold bars," Chief Financial Officer Richard Galanti said on Costco's quarterly earnings call on Tuesday. "Yes, but when we load them on the site, they're typically gone within a few hours, and we limit two per member."
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Costco did not immediately respond to a request for more information about the types of gold bars it sells, how much they cost, or the factors behind the demand. Today the site showed a price of $1979.99 per ounce for the bars. Shares of Costco were up 1.3% on Wednesday. ...
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