Costco, the American retail giant, earns between $100 and $200 million a month from selling precious metals, especially gold. Thanks to rising demand for gold, driven by historical prices and a growing appetite for hard assets, Costco gold products are flying off the shelves.
Since it began selling one-ounce gold bars in its stores for about $2,000 (1,860 euros) last year, Costco has seen a rush of customers eager to invest in the yellow metal.
Although some analysts consider this business strategy risky due to high production and shipping costs, clients see an opportunity to acquire assets whose value continues to increase, Expansión reveals.
Costco's gold products include not only gold bars, but also silver coins, all with distinctive designs. Customers have the option of choosing between Swiss models, which come with a digital certificate of authenticity, or South African models, which feature an engraved elephant.
To take advantage of these offers, customers must be members of the hypermarket chain and pay an annual fee that varies according to the country. Costco membership has increased significantly over the past year, partly due to the popularity of gold products.
In addition to Costco, other companies in the retail sector, such as Walmart, are benefiting from the demand for gold. Walmart offers a wide range of precious metals on its website, and acts as an intermediary for companies specializing in this market.
Andrea Hargraves is a contributor to Brytfmonline.com, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She is committed to delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and emerging developments. Andrea’s work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant to a wide audience.