Costco said it's now selling 1-ounce gold bars, but can't keep them in stock because of strong demand.
Both bars are about half an inch long. The PAMP Suisse bar is registered and comes with a digital certificate that can be accessed with a QR code, while the Rand bars come with their own serial numbers.
Gold has long been viewed by investors as a hedge against inflation as well as a source of financial stability when stock and bond markets are volatile. Over the past five years, the price of gold has jumped 57%, compared with a 47% rise in the broad-based S&P 500 stock index during the same period.
The Costco bars are selling for slightly more than the spot price of gold, which stood at $1,875 an ounce on Thursday, according to financial data firm FactSet. Costco customers appear to be fans of the product, with some noting that the prices were lower than those available at other retailers. Other reviewers pointed out that buyers with Costco credit cards and executive memberships can get a combined 4% cash back on their gold purchase.
"I was surprised that Costco was selling physical gold. I hope we can somehow find out when it becomes available again. It sold out very quickly!" one buyer wrote in a 5-star review."Costco's solid gold reputation made it an easy and secure purchase. I'm not sure i would trust just any dealer, tbh."
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