Costco has significantly increased its sales by venturing into the precious metals market, particularly gold bars, which has turned into a lucrative revenue stream for the retailer. Starting from August, when it began selling one-ounce gold bars at a 2% markup over the market price, Costco's venture into gold has seen remarkable success. By December, the sales of these gold bars had generated $100 million in the first quarter alone. The surge in gold prices, which jumped 8% in March and is up 14% year-to-date, has only bolstered Costco's new business line. As of April, with gold reaching record highs, Costco's monthly sales of gold bars range between $100 million to $200 million, according to estimates from Wells Fargo. This venture has not only attracted a significant number of buyers but has also positioned Costco as a major player in the bullion market, potentially making it one of the largest bullion dealers globally. The retailer's success in gold sales has been further amplified with the addition of silver coins to its inventory, following the rapid sell-out of gold bullion.
Costco's gold bar sales are generating between $100 million to $200 million a month, per a Wells Fargo equity research note out this week. https://t.co/NF4RxRAAbw
Shoppers are heading to Costco for more than just budget-friendly hot dogs. The warehouse club has seen a spike in sales ever since it began selling 1-ounce bars of 24-karat gold last September. https://t.co/VkNCGljqyC
Costco is said to be selling $200 million Gold bars every month. $GC $COST
Americans who bought a gold bar from Costo last year are now $400 in profit - as it emerges retailer sells $200 million of the bars EVERY MONTH https://t.co/joQDLksw1x https://t.co/UhC2iPiAVw
Costco has seen a spike in sales ever since it began selling 1-ounce bars of 24-karat gold. With the gold bullion selling out faster than the store could replenish its stock, the wholesale giant has expanded its precious metals to include silver coins. https://t.co/ukfhIAH6eQ
Costco shoppers are buying gold at an incredible pace. https://t.co/fpLwBy5lU2
Costco's gold bars generate jaw-dropping revenue for the retailer, despite the club being known for its pricing on bulk items. https://t.co/igYTUOj9Q8
Costco's gold bars earn company up to $200 million monthly, analysts say https://t.co/zhVC7DLXqr via @usatoday
Costco selling as much as $200 million in gold bars monthly. @scottlincicome how are you transporting all this bullion https://t.co/SsPc3CevDq
Costco selling as much as $200M in gold bars per month, Wells Fargo estimates https://t.co/uAmbj6wiAq https://t.co/zJYgj3k5be
NEW: Costco is selling $200 Million In gold bars each month - Wells Fargo It's probably nothing. Everything is fine... #Bitcoin 👀 https://t.co/qDN920sdhm
$200 million a month in #gold bullion sales at Costco $COST? Why are Americans hoarding so much gold? Answer: bad times ahead $GLD $GOAU #Bullion #GoldBars #preciousmetals https://t.co/MMYxxRDF9t
🇺🇸 Costco's gold bars earn company up to $200 million monthly, analysts say https://t.co/xFaECMSHQa
Costco selling up to $200 million in gold bars each month, Wells Fargo est @CNBC https://t.co/c5ImHYxnKi
Gold has turned into money for Costco, where yellow metal sales began last year have turned into a cash cow for the big-box retailer. https://t.co/sbToHZrMrL
Costco selling up to $200 million in gold bars each month, Fargo estimates. Follow: @AFpost https://t.co/wSO8lGeUmh
Is Costco already one of the largest bullion dealers in the world? Costco selling as much as $200 million in gold bars monthly, Wells Fargo estimates (CNBC) Gold has turned into money for Costco, where yellow metal sales begun last year have turned into a cash cow for the… https://t.co/J5WwnPLi3A
Gold has turned into money for Costco, where yellow metal sales begun last year have turned into a cash cow for the big-box retailer https://t.co/BL3MnEFZLe
TIL Costco sells $2.4 billion worth of gold bars per year. https://t.co/qg3lQnc7O9
Costco's gold bars earn company up to $200 million monthly, analysts say https://t.co/VFJvL1VVtg
Gold has turned into money for Costco, where yellow metal sales begun last year have turned into a cash cow for the big-box retailer. https://t.co/wqIekuhhMO
Wells Fargo estimates that Costco is now selling as much as $200 million in gold bars every month $COST
The gold rush in aisle four: Costco shoppers stock up on precious metals along with their groceries https://t.co/RBGpPul2QG via @WSJ
"Costco selling up to $200 million in gold bars a month, Wells Fargo estimates" https://t.co/2GWeCtE3CY
$COST Costco selling as much as $200 million in gold bars monthly, Wells Fargo estimates https://t.co/ONa9Gu8jIH
At least there are some Westerners buying gold (U.S. retail - up to $200 million per mo. in gold bars through Costco, but not U.S. & London institutional investors). “The accelerating frequency of Reddit posts, quick on-line sell-outs of product, and COST’s robust monthly eComm…
GOLD: Wells Fargo estimates that Costco is now selling as much as $200 million in gold bars every month
PAMP It: Costco Selling Up To $200 Million In Gold Bars Per Month, Wells Fargo Estimates https://t.co/Ilq47tSTnc
Wells Fargo estimates that Costco is selling as much as $200 MILLION in gold bars monthly. It is a miracle, a gold rush at Costco. Let’s go 💪 Please get a hot dog on the way out alongside popcorn.
The big winner from gold's recent rally? Costco. August: Starts selling one-ounce gold bars at 2% above market price December: Bars generate $100 million in their first quarter March: Gold jumps 8%, up 14% YTD April: Gold hits record highs, Costco now generating $100-$200… https://t.co/J95Ca6h9yi
$COST Costco selling as much as $200 million in gold bars monthly, Wells Fargo estimates per @CNBC Who's buying? https://t.co/9hVXM2z0n7
Costco, $COST, selling as much as $200 million in gold bars monthly, Wells Fargo, $WFC, has estimated.
Costco is selling a lot of Gold https://t.co/JSTlqo216J
Costco $COST may now be selling $100 Million - $200M of Gold Bars every month according to Wells Fargo estimates - CNBC https://t.co/P4Bzmt8Crs
Costco is now selling $200 million in gold bars every month. https://t.co/P6z6N6RwHX
Costco selling as much as $200 million in gold bars monthly, Wells Fargo estimates https://t.co/2BOI5irP32
Costco's gold bars are pretty cool—but young people are probably buying Bitcoin instead. https://t.co/x1pvwykvzW