Despite gold prices reaching record highs this year, sales at Costco Wholesale have surged as the retailer offers gold at competitive prices, appealing to a broader range of consumers.

Costco began selling bullion in June 2023, and its convenience, coupled with additional rewards for members, has made gold buying more accessible.

A recent survey found about 77% of Costco locations stocking gold sold out as consumer interest remains high.

Gold’s value as a safe haven and hedge against inflation has driven new retail buyers to Costco, marking it as a “bright spot” in the consumer gold market.

In its first fiscal quarter, Costco reported over $100 million in gold bar sales, as reported by Bloomberg.

Customers appreciate the ease of buying from a major retailer and the potential rewards, as many view gold as a valuable asset for diversification in uncertain economic times.

Written by Emily Begley