Costco's gold sales have experienced a rapid acceleration, with revenue now estimated to be running at $100 million to $200 million per month. The surge in sales is attributed to aggressive pricing, high customer trust, and increased online activity, including frequent Reddit posts and quick sell-outs of products. Costco is selling 1-ounce bars of nearly pure 24-karat gold, priced at around 2% above the spot price. The estimated price at Costco is just over $2,400.
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.
Asia markets poised for mixed open ahead of Japan corporate inflation data and New Zealand rate decision "Pricing at that level and shipping costs suggests it's a very low profit business at best," the analyst wrote. Central banks have been large buyers of gold, especially in Asia, and the run-up in prices this year suggests that while purchases are down in the early part of 2024, they are likely to pick up later, according to DataTrek Research.
Costco Gold Sales Revenue Acceleration Pricing Customer Trust Online Activity Reddit Sell-Outs 24-Karat Gold Spot Price
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Costco's Gold Sales Soar, Revenue Expected to Reach $100-200 Million per MonthCostco's gold sales have seen a rapid acceleration, with revenue expected to reach $100-200 million per month. The surge in sales is attributed to aggressive pricing, high customer trust, and increased online activity. Costco is selling 1-ounce bars made of nearly pure 24-karat gold, estimated to be priced at around $2,400.
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