Costco Gold Bars Spark Customer 'Gold Rush' But Limited Supply Leads to Frustration

Costco is selling 1 oz gold bars for just under $2,000, but they quickly sell out within hours of being restocked due to high demand.
The bars are only available to Costco members and purchases are limited to 2 bars per membership.
The popularity of the gold bars has sparked a "gold rush" among Costco customers.
Some customers are complaining online that they are having trouble securing the in-demand gold bars before they sell out.
The gold bars appear to also be available at some Costco locations in Asia, selling for over $2,100.

fortune.com

Relevant topic timeline:

9/8/2023

Costco's Global Expansion Reaches 859 Stores Worldwide, But U.S. Remains Company's Biggest Market

Costco is a global retail chain with 859 locations worldwide, with the majority of stores in the U.S., Canada, Mexico, and Japan, and is expanding in countries like China, Sweden, and New Zealand.

9/27/2023

Gold Prices Hold Near $1,900 Despite Stronger Than Expected U.S. Durable Goods Data

The gold market remains near a six-month low as it tests support above $1,900 an ounce, but is not experiencing major selling pressure despite strong US manufacturing data, with December gold futures currently trading at $1,909.60 an ounce.

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.

9/30/2023

Costco Sells Adorable 2-Piece Stoneware Baking Set for Just $18.99

Costco is now selling a two-piece bakeware set from Over and Back that is stylish, affordable, and perfect for baking large-batch recipes, priced at just $18.99 each.

10/16/2023

Gold Rallies on Israel-Hamas Conflict But Faces Resistance From Rising Yields

Gold prices have risen nearly $100 an ounce since the recent conflict between Hamas and Israel, driven by increased demand for safe-haven assets during times of geopolitical uncertainty, although a sustained surge and record highs are unlikely in the short term due to factors such as strength in the US dollar and rising real yields.

10/23/2023

Precious Metals Hold Steady Despite Rising Yields - Silver Seen as Undervalued Compared to Gold

Gold prices remain near $2000 per ounce despite rising rate hike expectations and higher Treasury yields, while silver's low prices have led to strong coin sales but the metal remains oversold, according to analysts at Heraeus.

10/27/2023

Gold Holds Above $2,000 as Inflation Fears Outweigh Economic Data

Gold prices have reached $2,000 per ounce due to the safe-haven trade prompted by the Israel-Hamas war, but economic uncertainty, including inflation concerns and fears of a credit event and recession, suggests that the Federal Reserve will maintain a hawkish monetary policy stance.

Topics

Posted 9/28/2023, 12:13:00 PM