Gold bullion investment

Costco Selling Gold Bars Like Hot Cakes. Sees Significant Gold Sales Growth

In the latest earnings call, Costco’s CFO, Gary Millerchip, revealed that sales of gold have surged by "double digits" in the most recent quarter, indicating a robust demand for the precious metal. Millerchip noted that gold sales acted as a "meaningful tailwind" for e-commerce growth during the quarter, reflecting the increasing popularity of gold bars among consumers. Costco began offering gold bars in the fall of 2023, and Wells Fargo analysts estimate that the warehouse giant is now selling between $100 million and $200 million in gold bars each month.