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.In fact, sales are so brisk that analysts at Wells Fargo expect revenue "may now be running at" $100 million to$200 million a month, a rapid acceleration since bullion hit the warehouse club late in the summer of 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 the ...