As Costco sells platinum, experts explain how the precious metal differs from gold [Business Insider]
Costco Wholesale Corporation (COST)
Last costco wholesale corporation earnings: 3/5 04:15 pm
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Source: Business Insider
The wholesaler has already sold through multiple rounds of platinum coins and bars in the past week. But experts caution that the metal is not considered a safe-haven investment like gold. Costco shoppers have been snapping up a broad selection of gold and silver products over the past year. Gold sales were up by a double-digit percentage in the fourth quarter, Costco CFO Gary Millerchip said on the company's earnings call last week, and now the wholesale club is adding platinum to the mix. Multiple rounds of one-ounce platinum coins and bars priced at roughly $1,090 have sold out at Costco in the past week, according to the automated listing tracker on a Reddit forum for enthusiasts of the retailer's precious metals. The coin, produced by the Canadian Mint, and the bar, from the Swiss PAMP refinery, were each listed at a slight premium to the metal's spot price, which hovered around $1,005 as of Friday. In addition, Costco's website says members are limited to a single t
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COST
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- 9/26/24 - Beat
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- 10/2/24 - Form 4
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