{"id":22733,"date":"2023-09-27T20:18:59","date_gmt":"2023-09-27T20:18:59","guid":{"rendered":"https:\/\/microloannexus.com\/news\/costco-is-selling-gold-bars-and-they-are-selling-out-within-a-few-hours\/"},"modified":"2023-09-27T20:19:01","modified_gmt":"2023-09-27T20:19:01","slug":"costco-is-selling-gold-bars-and-they-are-selling-out-within-a-few-hours","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=22733","title":{"rendered":"Costco is selling gold bars and they are selling out within a few hours"},"content":{"rendered":"<div id=\"RegularArticle-ArticleBody-6\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-6-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"group\">\n<p>Costco is well-known as a place to get bargain prices on any variety of items, from food to luggage to appliances to gold bars.<\/p>\n<p>Wait, gold bars?<\/p>\n<p>Yes, the retail warehousing giant is your one-stop shop for one-ounce gold PAMP Suisse Lady Fortuna Veriscan bars, handsomely detailed and ready for purchase.<\/p>\n<p>They&#8217;re available for the bargain price of &#8230; well, you have to be a member to know that, but apparently they were selling for a little shy of $1,900 recently, according to chatter on Reddit. <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\">Spot gold<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> most recently was going for $1,876.56 an ounce as of Wednesday afternoon.<\/p>\n<p>Regardless of the price, gold is selling like hotcakes, judging by comments Tuesday from <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-3\">Costco<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> CFO Richard Galanti. Speaking on the company&#8217;s quarterly earnings call, Galanti said the bars are in hot demand and don&#8217;t last long when in stock.<\/p>\n<p>&#8220;I&#8217;ve gotten a couple of calls that people have seen online that we&#8217;ve been selling one ounce gold bars,&#8221; he said. &#8220;Yes, but when we load them on the site, they&#8217;re typically gone within a few hours and we limit two per member.&#8221;<\/p>\n<\/div>\n<div class=\"group\">\n<p>A couple of important points from that thought: The bars indeed are only available online, and only if you&#8217;re a Costco member, which costs either $120 or $60 a year, depending on which program you pick. The retailer also is limiting the purchases to two to a customer, meaning it would be pretty hard to build a position that would lead to financial security.<\/p>\n<p>At the very least, though, it&#8217;s an effective promotion and one that could appeal to a certain sector of Costco&#8217;s shopping clientele, said Jonathan Rose, co-founder of Genesis Gold Group.<\/p>\n<p>Rose noted that the company seems to have accelerated it&#8217;s offerings of dried foods and other survivalist goods at a time when worries about the future are running high. For example, the company markets a 150-serving emergency food preparedness kit that could come in handy, you know, just in case. Gold meshes with that that type of product.<\/p>\n<p>&#8220;They&#8217;ve done their market research. I think it&#8217;s a very clever way to get their name in the news and have some great publicity,&#8221; he said. &#8220;There is definitely a crossover of people living off the land, being self-sufficient, believing in your own currency. That&#8217;s the appeal to gold as a safe haven as people lose faith in the U.S. dollar.&#8221;<\/p>\n<\/div>\n<div>\n<div class=\"Collapsible-proliveCollapsableContainer\" role=\"button\" tabindex=\"0\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"256\" height=\"256\" viewbox=\"0 0 256 256\" aria-labelledby=\"title desc\" role=\"img\" focusable=\"false\" preserveaspectratio=\"xMinYMin\" class=\"Collapsible-stockChartIcon\"><title>Stock Chart Icon<\/title><desc>Stock chart icon<\/desc><g transform=\"translate(1.4065934065934016 1.4065934065934016) scale(2.81 2.81)\"><path d=\"M 87.994 0 H 69.342 c -1.787 0 -2.682 2.16 -1.418 3.424 l 5.795 5.795 l -33.82 33.82 L 28.056 31.196 l -3.174 -3.174 c -1.074 -1.074 -2.815 -1.074 -3.889 0 L 0.805 48.209 c -1.074 1.074 -1.074 2.815 0 3.889 l 3.174 3.174 c 1.074 1.074 2.815 1.074 3.889 0 l 15.069 -15.069 l 14.994 14.994 c 1.074 1.074 2.815 1.074 3.889 0 l 1.614 -1.614 c 0.083 -0.066 0.17 -0.125 0.247 -0.202 l 37.1 -37.1 l 5.795 5.795 C 87.84 23.34 90 22.445 90 20.658 V 2.006 C 90 0.898 89.102 0 87.994 0 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 65.626 37.8 v 49.45 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 23.518 L 65.626 37.8 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 47.115 56.312 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 42.03 L 47.115 56.312 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 39.876 60.503 c -1.937 0 -3.757 -0.754 -5.127 -2.124 l -6.146 -6.145 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 59.844 C 41.952 60.271 40.933 60.503 39.876 60.503 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><path d=\"M 22.937 46.567 L 11.051 58.453 c -0.298 0.298 -0.621 0.562 -0.959 0.8 V 87.25 c 0 1.519 1.231 2.75 2.75 2.75 h 8.782 c 1.519 0 2.75 -1.231 2.75 -2.75 V 48.004 L 22.937 46.567 z\" transform=\" matrix(1 0 0 1 0 0) \" stroke-linecap=\"round\"><\/path><\/g><\/svg><\/p>\n<div class=\"Collapsible-proLivePlayerCloseOrExpand\"><\/div>\n<\/div>\n<p><iframe title=\"Gold futures, last 5 years\" src=\"https:\/\/www.cnbc.com\/appchart?symbol=%40GC.1&amp;range=5Y&amp;type=mountain&amp;embedded=true&amp;%24DEVICE%24=undefined\" height=\"460\" scrolling=\"no\" style=\"border:0;width:100%\"><\/iframe><\/p>\n<p>Gold futures, last 5 years<\/p>\n<\/div>\n<div class=\"group\">\n<p>Precious metals have been on a run over the past several years. Gold has risen more than 15% over the past year and more than 55% over the past five years.<\/p>\n<p>With inflation still elevated, banks under the gun from a regulatory standpoint and looming issues in the commercial real estate market, the safe-haven aspect of gold and silver should be strong, Rose said.<\/p>\n<p>&#8220;We know what the road map looks like: Bank failures, commercial loans defaulting at an alarming rate &#8230; they don&#8217;t seem to have a handle on inflation, and that&#8217;s why they keep raising interest rates,&#8221; he said. &#8220;The outlook for stability in the market isn&#8217;t good and people want a tangle asset that&#8217;s going to be a safe haven. That&#8217;s what gold and silver provide.&#8221;<\/p>\n<\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.cnbc.com\/2023\/09\/27\/costco-is-selling-gold-bars-and-they-are-selling-out-within-a-few-hours.html\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Costco is well-known as a place to get bargain prices on any variety of items, from food to luggage to appliances to gold bars. Wait, gold bars? Yes, the retail warehousing giant is your one-stop shop for one-ounce gold PAMP Suisse Lady Fortuna Veriscan bars, handsomely detailed and ready for purchase. They&#8217;re available for the<\/p>\n","protected":false},"author":1,"featured_media":22734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-22733","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Costco is selling gold bars and they are selling out within a few hours | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"Costco is well-known as a place to get bargain prices on any variety of items, from food to luggage to appliances to gold bars.Wait, gold bars?Yes, the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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