Costco announced it sold more than $100 million in gold bars last quarter
Gold bars are a hit among Costco customers. The retail giant announced that it sold over $100 million of its one-ounce gold bars during its last fiscal quarter, which ended on Nov. 26.
Costo CFO Richard Galanti made the announcement during an earnings call on Thursday.
In September, Costco announced that it started selling one-ounce bars of 24-karat gold from Rand Refinery for $1,949.99 and one-ounce bar from PAMP Suisse for $1,979.99.
Costco CFO comments on yearly membership price hike: ‘We haven’t needed to do it’
Both items have star ratings above 4.7 on the Costco website and can’t be refunded or returned.
The high-ticket item was hard for some Costco members to purchase since only two gold bars could be purchased per membership.
These are the top 15 jobs people want to quit the most, report says
Some Reddit users expressed their frustrations with trying to buy either gold bar. Once they were in stock they would typically sell out within hours, Costco said.
As of Friday afternoon, one ounce of gold is priced at $2,044.90, according to the Nasdaq Composite index.
For the latest news, weather, sports, and streaming video, head to KTLA.
