Costco Sells $100 Million Gold Bars This Past Quarter

According to Richard Galanti, the CFO of Costco, every fresh batch of gold bars is often sold out “within a few hours” during a September corporate results call.
This fall, the bars sold on the Costco website range in price from $1,950 to $1,980, but they’re currently out of stock. As of Monday, the spot price of gold exceeded $2,000 per ounce.
As an inflation hedge, gold has a reputation for doing well during times of economic uncertainty. Amid persistent fears of a recession, spot gold prices hit a record high of almost $2,100 per ounce in early December.
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