Alongside its $1.50 hot dog and soda combo, gallon tubs of mayonnaise and value packs of socks, Costco, the warehouse retailer, has been selling gold bars since October.
Now, retail analysts say Costco is selling up to $200 million worth of gold and silver each month, according to an analysis from Wells Fargo.
Online forums and Reddit threads have cropped up where customers give each other advice on how to purchase the bars before they sell out.
“I’ve gotten a couple of calls that people have seen online that we’ve been selling one-ounce gold bars, yes, but when we load them on the site, they’re typically gone within a few hours,” Richard Galanti, executive vice president and chief financial officer, said in an earnings call in September.
Persons:
“ I’ve, ” Richard Galanti
Organizations:
Costco
Locations:
Wells Fargo