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Costco had 100-gram gold bars for $7,600. They sold out in less than a day. [Business Insider]
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The quick sellout shows just how strong demand still is for Costco's precious metals business. Costco has been selling gold and silver at a rate of $200 million per month , per analyst estimates, and it's showing no signs of slowing down. Look no further than this week's sell-off of the company's largest gold product : 100-gram bars of 24-karat gold from PAMP Suisse that last sold for $7,599.99. Weighing as much as three and a half standard coins, the two-square-inch slabs cost as much as a high-mileage used car. Related stories The price didn't dissuade gold buyers, who snapped up the stash of 100-gram bars in less than a day. It's unclear how many units were in this release, but the product listing shows dozens of reviews from verified customers. As one review pointed out, Costco's 2% rewards for Executive membership, plus 2% from Costco's credit card translate to some big bucks on such a large purchase. In this instance, the combined rewards would come in around $300
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