01:35:14 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Costco CDR (CAD Hedged)
Symbol COST
Shares Issued 4,250,000
Close 2024-01-04 C$ 30.47
Market Cap C$ 129,497,500
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NP says there's a gold rush at Costco

2024-01-04 07:55 ET - In the News

The National Post reports in its Thursday, Jan. 4, edition that at the moment, gold bars are out of stock at Costco. The Post's unbylined item reports that Costco is selling gold bars to members with the spare cash or the inclination. According to the company's website, it sells a 31-gram 24-carat gold bar (about one inch by 1.5 inches) and a 10-gram bar (about 0.75 inches by one inch). Prices are not available except to Costco members, but CBC reported that in Canada, the 31-gram (one-ounce) bar is going for $2,679.99 (Canadian). One review of the 10-gram gold bar says: "The bar is tiny and cute but it is nice little gift. Got it for my partner birthday and Christmas. Would be nicer if the price a little bit better." Chief financial officer Richard Galanti told investors last week, according to CBS News, that "they're typically gone within a few hours" when new stock is put up on the website. CNBC reported that during the first quarter, Costco sold about $100-million (U.S.) in gold bars during its most recent quarter, which ended Nov. 26. The reviews on Costco Canada's website are mainly positive, though some have complained about the competitiveness of the price compared with major Canadian banks.

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