Costco gold bars: How much do they cost and how can you buy them?

Economic uncertainty has led gold prices to rise rapidly as investors look to increase their stock of physical assets less susceptible to market volatility. This phenomenon questions research from the Federal Reserve that hypothesizes that periods of high-interest rates would lead to gold prices decreasing. The price of gold is up ten percent since January, with a one-ounce bar valued at $2,019.

Costco members are able to purchase gold bars

For those looking to purchase some gold themselves, Costco members may be able to score a deal. Prices fluctuate, and Costco Chief Financial Officer Richard Galan stated that the company will only allow two 1-ounce bars to be purchased per member. Over the last year, Galan reported in an earnings call this week that the company has made $100 million just by selling gold bars.

The retailer is currently sold out of the bars, which retailed for as much as $1,980 earlier in the fall. Those sold by Costco are the PAMP Suisse Lady Fortuna Veriscan variety, and prices are only available to members who log in to the online shopping portal. Once the bars have been restocked, those purchased online will be delivered in two to three business days.

Why is gold useful to have?

Gold has been a valuable asset for centuries. Unlike paper currencies that can lose value due to inflation or economic instability, gold has maintained its worth over time. It can serve as a way to preserve wealth outside of the control of banks. During economic or geopolitical turmoil, investors often turn to gold as a safe haven asset. It is considered a form of financial insurance because its value tends to rise when other investments are underperforming or uncertain in the markets. This makes it a great investment option in the current era of high inflation and very high-interest rates.