2025.12.25 在加利福尼亚州生活的萨利（化名）对记者表示，2023年底，开市客开始销售1盎司的金条产品，有两 种选择：PAMP Suisse Lady Fortuna Veriscan金条和Rand Refinery金条，在2023年底的价格大概在1950- 1980美元/盎司，尽管价格不菲，她还是果断购入，截至12月，以她购买的PAMP Suisse Lady Fortuna Veriscan金条为例，售价已经跟随黄金市场的走势上涨到了4200美元左右，涨幅超过100%了。 开市客首席财务官米勒奇普（Gary Millerchip）在本月早些时候的财报电话会议上表示，在截至11月23 日的季度中，黄金与珠宝、健康和美容产品一样，是销售额实现两位数增长的产品类别之一。虽然开市 客没有透露具体销售额，但富国银行此前估计，每月金条和银币的销售额达到1亿至2亿美元。 开市客所售金条 （来源：开市客网站） 开市客的"淘金热" 本文字数：1360，阅读时长大约3分钟 作者 |第一财经 冯迪凡 "每个会员每次交易最多购买4件，每24小时最多购买4件"，这是美国开市客（Costco ）网站上对黄金产 品的限购条款。 ...

Core Viewpoint - Costco has seen a significant increase in demand for gold products, with sales of gold bars and coins estimated to reach between $100 million to $200 million per month, driven by a unique membership model and limited purchase options [3][8]. Group 1: Sales Performance - In the latest quarter ending November 23, gold and jewelry sales were among the product categories that achieved double-digit growth [3]. - Costco's overall sales increased by 15.6% year-over-year, with a previous year's growth of 16.1% [8]. - The price of gold bars sold by Costco has risen significantly, with examples showing increases from around $1,950-$1,980 per ounce to approximately $4,200, reflecting a growth of over 100% [3][8]. Group 2: Membership and Demand - The membership structure of Costco has effectively stimulated demand for gold products, with some customers registering for membership specifically to purchase gold [9]. - The pricing strategy for gold bars is competitive, with a markup of only 2% to 3% over spot prices, making it more accessible compared to traditional dealers [9]. - The limited purchase policy (maximum of 4 items per transaction and per 24 hours) has created a sense of urgency and exclusivity, further driving demand [3][9]. Group 3: Future Prospects - Industry experts predict that if economic uncertainty continues, Costco's precious metals business could exceed $3 billion in annual sales by 2027, enhancing the company's profitability [11]. - There are indications that Costco may expand its precious metals product line to include platinum or themed collectibles to maintain growth momentum [10][11].

Core Insights - Costco's limit purchase strategy and member-exclusive discounts have attracted a significant number of consumers to buy gold products [1][4] - The price of gold bars sold by Costco has seen substantial appreciation, with some products increasing over 100% in value since their purchase [1][3] - The demand for gold and silver products is driving membership registrations, as consumers see the value in purchasing these items at Costco [3][4] Group 1: Sales and Financial Performance - Costco's sales of gold and jewelry, along with health and beauty products, have experienced double-digit growth in the latest quarter [1] - The company's digital sales increased by 15.6% year-over-year, with gold and silver sales contributing significantly to online revenue [3][4] - Wells Fargo estimates that Costco's monthly sales of gold bars and silver coins reach between $100 million to $200 million [1] Group 2: Market Trends and Consumer Behavior - The price of spot gold reached $4,500 per ounce, reflecting a year-to-date increase of over 70% [3] - Costco's gold products typically sell out within hours of being listed, indicating high demand [3] - The membership fee of $65 is seen as a minor cost compared to the potential profits from gold investments, encouraging new memberships [3][4] Group 3: Competitive Landscape and Future Outlook - Competitors like Walmart are also entering the precious metals market, indicating a growing trend [5] - Costco's supply chain includes partnerships with reputable mints, reducing the risk of counterfeit products [5] - Industry experts predict that if economic uncertainty persists, Costco's precious metals business could exceed $3 billion in annual sales by 2027 [5]