Gold bars selling fast at Costco, bringing in as much as $200M a month, reports say

(Gray News) – Costco has brought in as much as $200 million a month by selling gold bars, according to analysts at Wells Fargo CNBC reported.

The wholesale retailer began selling the 1-ounce, 24-karat gold bars for just under $2,000 each to members in 2023.

They’re available on Costco’s website and come individually stamped with a unique serial number.

A Costco top executive said the gold bars typically sell out within a couple of hours after landing on the website.

The bars come from the South African mining company Rand Refinery and Swiss precious metal supplier PAMP Suisse.

The gold is non-refundable and ships via UPS.

According to Forbes, gold prices are up 25% over last month, topping $2,300 per troy ounce for the first time ever.