????WOW‼️Costco Selling As Much As $200 Million In Gold Bars Monthly, Wells Fargo Estimates
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.
In fact, sales are so brisk that analysts at Wells Fargo expect revenue “may now be running at” $100 million to $200 million a month, a rapid acceleration since bullion hit the warehouse club late in the summer of 2023.
Costco is selling 1-ounce bars made of nearly pure 24-karat gold. While the price is not disclosed online to non-members, it’s estimated that the product generally sells for about 2% above the spot price, which as of Tuesday morning was around $2,357 an ounce. That would put the price at Costco just more than $2,400.
That is close to or around 85000 Oz per month.