Costco has implemented new purchase limits on gold bars for its members amidst rising gold prices. According to the company’s website, members can now make a maximum of one transaction per membership and purchase up to two units of gold bars every 24 hours. The limited offerings include two 1-ounce gold bars—one from Rand Refinery priced at $3,249.99 and another, PAMP Suisse Lady Fortuna Veriscan, priced at $3,389.99. Both products are 24-karat gold and are non-refundable.
The price of gold bars at Costco has seen a significant increase since October 2024, coinciding with a broader trend of rising gold prices, which have reportedly increased by over 40% in the past year. Costco began selling gold bars in 2023, achieving sales of $100 million in the last quarter of that year. Initially, members could purchase five PAMP Suisse bars per 24 hours, but this limit has been reduced as demand continues to grow.
Despite a recent report indicating that gold prices may face their largest weekly drop since November, the current trend remains upward overall. Costco has not publicly commented on the recent changes to its gold bar purchasing policy.
As the market for gold bars at Costco evolves, it reflects a growing consumer interest in gold as a stable investment option during uncertain economic times. The retailer's action to impose purchase limits suggests an effort to manage inventory and meet ongoing demand from its membership base.