### Frenzied Demand for Gold Bars Continues at Costco Amid Soaring Bullion Prices

Costco's gold rush that began last year is far from over, with their 1-ounce gold bars consistently selling out as gold prices climb. A survey by Bloomberg highlights that many Costco locations across the U.S. are out of stock, feeding a sense of urgency among customers.

According to Costco’s website, 1-ounce gold bars were priced at $2,689.99 before tax but have since sold out, prompting members to flock to physical stores. Costco has managed to outprice traditional precious metal dealers, offering not only competitive rates but also additional rewards for members.

Sourav Sethia, a 33-year-old analytics engineer from New Jersey, shared his experience, noting he receives notifications from Costco when new stock arrives. "It's a great experience overall," Sethia said. "Whenever I see the price has pulled back, I rush to Costco to buy one."

Bloomberg's survey revealed that approximately 77% of Costco stores that stock bullion bars were sold out within the first week of October. This statistic was based on telephone inquiries to 101 stores spread over 46 states, each confirming new stock arrivals recently.

In addition to gold, Costco has also started selling 1-ounce PAMP Suisse Lady Fortuna Veriscan platinum bars online. Each platinum bar retails for $1,089.99, with a purchase limit of five units per transaction for members. However, delivery is not available to Nevada and Louisiana residents, and the bars are non-returnable.

Costco has previously seen high demand for its gold and silver bars. In September of the prior year, then-CFO Richard Galanti informed analysts and investors that gold bars typically sold out within hours of appearing on Costco's website. This fervent demand has notably contributed to an increase in the retailer's online sales over recent quarters.