Members Only: Costco’s New Platinum Sales

  • Costco adds one-ounce platinum bars to its online offerings
  • Swiss-made platinum bar priced at $1,089.99
  • Platinum bars available only to Costco members
  • Limited to five units and one transaction per membership
  • Costco also sells gold bars and silver coins
  • Gold sales have increased double-digits in Q4
  • Platinum price up 1.6% in a day, 14.7% in a year
  • Gold price up 44.5% in past 12 months
  • Costco started selling gold bars in August 2023
  • Wells Fargo estimated $200 million monthly sales of gold bars
  • Platinum used in jewelry, industrial products, medical devices, and electronics
  • Gold bars shipped by UPS in 3-5 business days
  • Not available for delivery to Louisiana, Nevada, or Puerto Rico

Costco Wholesale is expanding its precious metals offerings, now selling one-ounce platinum bars for $1,089.99 online. These Swiss-made bars join gold bars and silver coins in their inventory. Gold sales have seen double-digit growth, while platinum has increased 14.7% in the past year. Platinum is used in various industries, including jewelry, automotive parts, medical devices, and electronics. Costco began selling gold bars in August 2023, with estimated monthly sales of $200 million. Members can purchase up to five platinum bars per membership, shipped by UPS within three to five business days.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Costco’s expansion into precious metals sales, including details on the platinum bar offerings, their availability to members, and the uses of platinum in various industries. It also includes relevant context on gold sales performance and a comparison between gold and platinum prices.
Noise Level: 4
Noise Justification: The article provides relevant information about Costco’s expansion into precious metals sales and the demand for gold bars in recent times. It also mentions the various uses of platinum and its current market performance compared to gold. However, it lacks a deeper analysis or exploration of the reasons behind this trend and does not offer significant insights beyond reporting on the product offering.
Public Companies: Costco Wholesale (COST)
Key People: Gary Millerchip (CFO)

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Financial Relevance: Yes
Financial Markets Impacted: Yes
Financial Rating Justification: The article discusses Costco’s expansion into precious metals sales and the impact on gold and platinum prices in financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
Move Size: 1.6%
Sector: Technology
Direction: Up
Magnitude: Small
Affected Instruments: Stocks

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