Costco has begun restricting purchases of its popular gold bars, limiting customers to one bar per transaction, amidst soaring demand triggered by market turmoil. The 1 oz gold bars, including the PAMP Suisse Lady Fortuna Veriscan, have seen a significant price gain since their introduction in 2023, attracting numerous buyers eager to profit. With estimates from Wells Fargo indicating that Costco was generating $200 million a month from gold bar sales, the retailerâs stock is flying off the shelves, leading to reported shortages at many locations across the country.
In April 2024, Wells Fargo estimated that the commerce giant was earning $200 million per month in gold bar revenue, highlighting the significant demand and interest.
According to a Bloomberg survey from October 2024, approximately 77% of Costco branches across 46 states had sold out of gold bars within a week, showcasing the unprecedented rush.
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