Costco has been making a lot of gold sales. Last year they sold tens of millions in gold bars, overall it's reported that they've seen over $100 million in sales just on that product.
Who could have anticipated that these products in the U.S. and elsewhere would see such demand. Especially given that they aren't very cheap when compared to the popular items that people frequent Costco locations for.
They have been selling online and even with the limits they've placed for purchases it is still interesting to see how many they have sold overall.
inflation concern driving new interest for precious metals?
Are more people becoming interested in gold and silver and if so, why might that be? Not only is there demand for product usage but many people around the world still value precious metals, some more than even traditional fiat currency.
Surveys from only a few years ago suggest that some 10% or more of the American population might already own precious metals, like gold or silver.
It also looks like Central Banks have been in favor given that they've loaded up too in recent years. Today there are many ways to find these products and Costco is giving one more convenient way for individuals to look for these products online.
Despite the opportunity though some still question if it is worth it, it seems that many are still voting with their dollars for the product given the amount of sales they've seen recently.
This is not to be taken as financial advice, this is posted for information purposes only.
https://www.theguardian.com/business/2023/dec/15/costco-100m-gold-bars
https://www.usatoday.com/story/money/retail/2023/12/15/costco-gold-bar-sales-drive-stock-price/71934906007/
https://www.cnbc.com/select/how-to-invest-in-record-high-gold-prices/