Costco selling as much as $200 million in gold bars monthly

Gold sales at Costco have become a lucrative venture for the retailer, with analysts estimating monthly revenue to range between $100 million to $200 million.

Since its introduction in late summer 2023, Costco’s gold bars, priced slightly above the spot price, have seen significant demand attributed to competitive pricing and customer trust.

Despite being limited to five bars per customer, the sales contribute about 3% to general merchandise revenue but offer minimal profit due to low margins and additional cashback benefits for members.

However, amidst rising inflation and geopolitical uncertainties, gold remains an attractive investment, serving as a hedge against various economic risks, CNBC reported.

READ MORE: https://www.cnbc.com/2024/04/09/costco-selling-up-to-200-million-in-gold-bars-a-month-wells-fargo-estimates.html

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