Costco members buy over $100 million in gold bars, stock rises after earnings call

Retail giant Costco announced Thursday that it had sold over $100 million in gold bars in the first fiscal quarter of 2024, according to CNBC.

The announcement came in the company’s earnings call where the company said that they had a 6.1% increase in sales compared to the first quarter of 2023 and declared a $15 per share special dividend.

The wholesaler has the one ounce bars listed for sale online but they are available only to members with a limit of two bars per person. The one-ounce PAMP Suisse Lady Fortuna Veriscan and Rand Refinery bars are made of 24-karat gold and sell on Costco’s website for $2,069.99, according to CNBC.

The product is non-refundable and is shipped to customers via UPS. According to the product descriptions, the bars are brand new and come registered with certificates of authenticity and proof of lab analysis.