Costco Sells Out of Gold Bars Within Hours as Customers Seek Inflation Hedge

Costco selling small gold bars, selling out within hours according to CFO
Gold bars priced around $1980 per ounce on Costco site
Gold seen as safe haven asset and hedge against inflation
Costco quarterly results topped expectations amid inflation
Costco stock up 24% in 2022 as customers seek value

marketwatch.com

Relevant topic timeline:

9/25/2023

Costco's Value Proposition Drives Sales Growth Amid Inflation Worries

Wholesale retail giant Costco is expected to win over consumers with its cheap gas prices as it reports quarterly results, with same-store sales growth expected to rise and e-commerce sales predicted to increase by 5%.

9/29/2023

Gold and Bitcoin Shine as Economic Uncertainty Fuels Investor Demand for Alternative Stores of Value

Costco rapidly sold out of gold bars as investors turn to traditional safe-haven assets like gold during economic uncertainty and rising inflation, but the performance of gold is being overshadowed by Bitcoin's impressive gains and lower equivalent inflation rate.

10/9/2023

Costco's Winning Strategy of Value and Loyalty Drives Steady Growth, But High Valuation Raises Some Concerns

Costco Wholesale is a high-quality company with a high valuation, but its business model, strong performance, and potential for growth make it a compelling investment choice despite its high price.