Whilst Malaysian bullion dealer, Quantum is selling gold bullion in Southeast Asia (from the Perth Mint) and aiming to have BEZ produce as quickly as possible "sharia gold" to sell at at a premium to spot gold; and we saw the news of frenzied retail buying of physical gold this week in Shanghai. Retail gold bullion selling has also taken off in the USA as well.
Costco selling as much as $200M in gold bars per month, Wells Fargo estimates
Costco has struck gold by selling its one-ounce bullion bars — so much so that the big-box retailer is reportedly raking in as much as $200 million a month as the price of the precious metal skyrockets.
Revenue “may now be running” at $100 million to $200 million monthly, Wells Fargo said, according toCNBC— a rapidacceleration from the $100 million sold in one-ounce gold bars in its fiscal first quarterthat ended in late 2023.
“Our work suggests there has been significant interest given COST’s aggressive pricing and high level of customer trust,” Edward Kelly, an equity analyst at Wells Fargo, said in a note to clients, per CNBC.
Costco selling as much as $200 million in gold bars monthly, Wells Fargo estimates
Gold has turned into money for Costco, where yellow metal sales begun last year have turned into a cash cow for the big-box retailer.
https://nypost.com/2024/04/10/business/costco-selling-as-much-as-200m-in-gold-bars-per-month-wells-fargo/
