Costco in Canada has been selling gold bars and they've been selling out it seems rather quickly.

Is this because people don't know where else to purchase gold from? Or is this just a more convenient option for them? Pick up some gold with the usual groceries?

selling 1 oz gold bars at Costco

Maybe there are some picking it up just for a collection?

Or are consumers worried that things could take a turn and they are diversifying seeing as the option is right in front of them to do so?

Considering the hot demand for the item it is surprising that there isn't more demand for precious metals online and in other stores.

Apparently the gold bars they have been selling have sold out within just a few hours.

So what's going on and what is making people want to buy them?

There is also more than one option, they've been selling

• a 1 oz bar from Rand Refinery
• 1 oz bar from PAMP Suisse

Due to the demand they've had to place limits on how many people can buy.

Only members are able to make the purchase.

Might this entice anyone to newly sign up for a membership? Pick up some gold with your bread and butter.

Could other retailers soon look to do the same? Lucky for those who do want to snag some precious metals Costco of course isn't the only place to do it.

You can even find options for precious metals at your local mail office among many other retailers and currency exchange operations around Canada and other countries, numerous options can be found online too.

This is not financial advice. Posted for information purposes only.
Sources:
https://www.cnbc.com/2023/09/27/costco-is-selling-gold-bars-and-they-are-selling-out-within-a-few-hours.html
https://fortune.com/2023/09/28/costco-gold-rush-gold-bars-sell-out-2000-spot-gold-pamp-suisse-rand-refinery-hedge-invest-bullion-price-costco-membership-richard-galanti/
https://www.cbsnews.com/news/costco-is-selling-gold-bars-heres-how-to-buy-gold-now/