RETAIL GIANT COSTCO STARTED SELLING GOLD BARS TWO DAYS AGO, AND SOLD OUT IN JUST HOURS
So I’m not sure how I missed out on hearing about the fact that Costco, the giant membership based retailer, was going to join a pretty limited club in selling gold bars. But I did, totally and absolutely miss that little, um, gem. And now I’ve got even more (golden color) egg on my face with the fact that Costco sold out of all of their gold bars merely hours after they first went on sale. And as you should know, things like gold bars don’t have the same price day to day. In fact, the price of gold can vary greatly in a single day, though not all gold products (like bars) will have a different price in the same day. Of course, that can really depend on the size of the gold bars in question.
GOLD HAS ALWAYS BEEN A RELATIVELY STABLE INVESTMENT, USUALLY HIDDEN AWAY
Regardless, Costco now sells 1 oz Gold Bar PAMP Suisse Lady Fortuna Veriscan gold bars. So obviously, these are not all that large, being a single ounce. But that makes the pricing a little easier. Today, the current price is $1,920.31 an ounce for gold. But on Wednesday, when Costco sold out in hours their entire stock of gold bars, the price was $1,876.56. So whoever bought them has already, in theory, made a little over $43 so far on their retail store-bought booty. So it’s a slightly more interesting world when a giant retailer like this starts selling gold bars.
COSTCO MEMBERS COULD BE SURVIVALISTS WHO SAW GOLD BARS AS A SOLID BET, JUST IN CASE
But why, you ask? It’s not completely clear, though Costco does sell survivalist items like a 150-serving emergency food preparedness kit. How is that thematic? Well, preparation for the devolution of markets and society, of course. You may not know it, but you’re likely related to someone who has a bunker hidden under their backyard in case Armageddon strikes. And gold? Well, gold is a real, physical investment that always has value. While not everyone will be impressed in a post-apocalyptic world with platinum, everyone knows gold. It’s been a staple as currency going back thousands of years.
And now? Now you can buy it at Costco. Personally, If you are curious about a relatively safe investment like gold, I’d recommend having a look at the Perth Mint.