Costco Gold Rush Continues. Selling out in Hours. Purchase Limit of 2 ounces.
The wholesale retailer’s 24-karat gold bars have gone viral, often disappearing from inventory just hours after restocking.
Initially launched in 2023, the gold bars, priced around $1,950 to $1,980, are available in options like the PAMP Suisse Lady Fortuna Veriscan and the Rand Refinery's South African bullion.
Despite today’s high price tag, (just under $3400 includes small premium) customers have been rushing to buy them, hoping the bars will hedge against economic instability.
Costco’s website now restricts members to buying just two gold bars per 24-hour period.
“Purchase limit of 2,” reads a notice under the new 1-ounce .9999 Gold Bullion listing.
“This item is non-refundable and non-returnable.”
PUBLIC REACTIONS
Social media posts (such as the Costco subreddit) quickly noticed the change and shared their opinions on the gold-buying craze.
“Best investment [right now],” one user commented.
“I saw it on the news that Americans are buying gold to safeguard savings from the current chaos,” said another.
"Once it hits the news, it becomes a bad idea to jump in on the trend as a buyer."
"If it gets to the point where the dollar is worthless, we've got a lot of other stuff to worry about besides money," another added.
SELLING FAST
According to a Bloomberg survey, in October 2024, roughly 77% of Costco stores in 46 states sold out of gold bars within a week.
Wells Fargo analysts estimate Costco’s bullion sales generate between $100 million and $200 million per month.
The panic-buying of gold reflects a broader trend as consumers seek tangible assets in an unstable financial climate.
Look how Embarrassing the US CFTC is with this absurd comment (all by design)
The Commodity Futures Trading Commission (CFTC) recently warned that precious metals, including gold, can be volatile and aren't always safe bets. This is further proof of Jon Little's thesis that the Ruling Class hates gold and, therefore, why you all should love it.
Still, the hype around Costco’s gold shows no signs of slowing.
The company has leaned into the trend, expanding its precious metals offerings to include silver coins and one-ounce platinum bars.
For now, Costco’s purchase limit is balancing high demand with inventory control.
It appears this is an indicator that the plebs are waking up to the fact that there fiat paper debt notes are being devoured by inflation, currency debasement and the first sign that FOMO is close to setting in. Which also means that the Gold Bull run has even began quite yet … but getting very close.