Costco Wholesale Corporation has capped gold bar purchases at one transaction of up to four 1-ounce units every 24 hours, responding to demand that consistently outpaces supply.
Chief Financial Officer Richard Galanti reported that Costco sells several hundred million dollars in gold monthly. The 24-karat bars sell out within hours of becoming available online.
Costco introduced 1-ounce gold bars in late 2023. Gold prices have surged 125 percent since then. Multiple analysts expect prices to reach $6,000 or more per ounce by year-end.
The retailer offers 24-karat bars from PAMP Suisse and Rand Refinery, each with assay cards for authenticity. In late 2023, the PAMP Suisse Lady Fortuna Veriscan bar was priced at $1,979.99 and the Rand Refinery bar at $1,949.99.
Members can earn up to 4 percent in combined rewards through Executive Membership and the Costco Anywhere Visa credit card. A $4,000 gold bar at 4 percent yields $160 in cash back, reducing the effective cost to $3,840 and offsetting premiums over spot price.
Costco updates gold prices in real-time based on the spot market and demand. Gold purchases are non-refundable.
The retailer expanded its bullion program in 2024 to include silver coins and platinum bars. Gold remains the most popular offering.
