https://nypost.com/2024/04/10/business/costco-selling-as-much-as-200m-in-gold-bars-per-month-wells-fargo/Costco selling as much as $200M in gold bars per month, Wells Fargo estimates
Costco has struck gold by selling its one-ounce bullion bars — so much so that the big-box retailer is reportedly raking in as much as $200 million a month as the price of the precious metal skyrockets.
Revenue “may now be running” at $100 million to $200 million monthly, Wells Fargo said, according to CNBC — a rapid acceleration from the $100 million sold in one-ounce gold bars in its fiscal first quarter that ended in late 2023.
“Our work suggests there has been significant interest given COST’s aggressive pricing and high level of customer trust,” Edward Kelly, an equity analyst at Wells Fargo, said in a note to clients, per CNBC.
