Costco saw a huge demand for its Gold Bars in the last quarter The company recorded $100 million in sales. The CFO of Costco, Richard Galanti, said on Thursday that the one-ounce gold bars saw a massive demand in the recent quarter.
When Richard Galanti was questioned about what customers are buying this holiday season, he said, “They are buying Gold”
It was claimed until recently by the CFO that Costco sells its inventory within a few hours after being listed online.
The website of Costco displays the two gold refiners Swiss supplier PAMP Suisse and South Africa’s Rand Refinery. The company allows only two bars of 24 Karat one ounce of gold per customer.
Costco closed its quarter with $72 million in paid memberships.
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However, due to the products being out of stock, the pricing is not available on the website. In addition to this, Galanti also revealed the sale of the collector’s item ( a $2000 index card autographed by baseball legend Babe Ruth )
The CFO went on to say “For you last-minute shoppers out there, there’s a Mickey Mantle autographed 1951 rookie card in nearly perfect condition, and it’s on sale online for $250,000.”
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