'It only reinforces its value position,' Wells Fargo said.
Share on linkedin are generating between $100 million to $200 million a month, per a Wells Fargo equity research note out this week. Yes, that's actual precious metal.The retailer last year started selling 1 oz. gold bars online and in some stores for just over $2,000 a pop, with a limit of two bars per Costco membership, per the online store. It also sells Wells Fargo said it views "the addition of gold/silver as a smart move for Costco, as it only reinforces its value position.
The bank also attributed the "sharp uptick in momentum" since the 2023 launch of gold bars to the "accelerating frequency of Reddit posts, quick on-line sell-outs of product, and COST's robust monthly eComm sales."Costco had already sold $100 million in gold bars in its first quarter ending in late November.
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