Costco adds platinum bars to its precious metals lineup

Core Viewpoint - Costco is expanding its presence in the precious metals market by introducing Swiss-made platinum bars for sale online, following the successful launch of gold bars earlier in 2023 [1][2] Group 1: Product Offerings - The newly introduced 1-ounce platinum bars are priced at $1,089.99 and are available exclusively online, with restrictions on delivery to certain states [1] - Costco's gold bars, launched in August 2023, have seen high demand, often selling out within hours of restocking [2] Group 2: Market Performance - Analysts at Wells Fargo reported that Costco was selling approximately $200 million worth of gold bars monthly as of April 2023 [1] - The value of gold has increased by over 40% in the past year and more than 70% over the last five years, while platinum has seen a 15% rise in the past year but a decline of over 8% since reaching $1,100 earlier in 2024 [2]