Going For Gold
Wholesale retailer Costco (COST) is best known for its immense quantities and diverse aisles where customers can find anything from TVs to gym equipment to… gold bars?
You read that right. Costco sells 1 ounce 24 karat gold bars online. But unlike its typical inventory, the bars are decidedly not sold in bulk. In fact, they’re limited to just two bars per membership.
Even so, Costco is living through its own gold rush, with bars selling out in a matter of hours.
You might go to Costco to get a deal, but gold bars aren’t sold at a discount with a price just under $2,000. For reference, the spot price of gold is around $1,865 per ounce. Over the past year, gold prices have climbed nearly 13%. On top of that, only Costco members can buy them, with a membership running at $60 to $120 per year.
Precious metals are often seen as a safe haven asset, a means to protect wealth in times of economic or market uncertainty, as well as high inflation. Gold in particular is perhaps the single most enduring investment tool in history.
Assets like stocks, bonds, and the U.S. dollar can fluctuate in response to various political and economic factors. And while precious metals fluctuate as well, gold has historically held its value well over the long term. So if you’re in the market for a safe-haven asset, keep an eye on Costco’s next restock.
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