HomeFinanceFrenzied Demand Forces Costco To Cap Gold Bar Sales

Frenzied Demand Forces Costco To Cap Gold Bar Sales

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Gold bars sold out quickly when first offered online in 2023, with customers snapping them up within hours. A senior Costco executive noted during a September 2023 earnings discussion that once available, the items disappear promptly with a limit of two bars per customer. Sales in the precious metal and jewelry segments advanced impressively in double-digit fashion over a 24‑week span ending on February 16, according to company management. The retailer broadened its offerings by debuting silver Canadian coins in March 2024.

Gold prices increased by more than 1% on May 15 amid uncertain economic conditions, a factor that may drive continued demand for these metals. One social media remark humorously highlighted the trend, comparing the sudden appeal of gold bars to the unusual consumer shifts seen in 2020. Analysts foresee that continued interest in metal products may reshape buying habits.

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