Membership retailer Costco started selling gold bars—to be specific, 1 oz Gold Bar PAMP Suisse Lady Fortuna Veriscan gold bars—and they sold out faster than the hundred-dollar hot tub. No returns!
they were selling for a little shy of $1,900 recently, according to chatter on Reddit. Spot gold
most recently was going for $1,876.56 an ounce as of Wednesday afternoon.
Regardless of the price, gold is selling like hotcakes, judging by comments Tuesday from Costco Chief Financial Officer Richard Galanti. Speaking on the company's quarterly earnings call, Galanti said the bars are in hot demand and don't last long when in stock.
Costco is becoming the survivalist retailer of choice, if you aren't getting the memo: "the company markets a 150-serving emergency food preparedness kit that could come in handy, you know, just in case. Gold meshes with that type of product."
