Costco is selling up to in gold bars per month (~80,000 It's a lot. For reference, China’s Central Bank bought of gold in March (~160,000 A funny side note: bunch of Costco members trying to rack up c

Costco is selling up to in gold bars per month
(~80,000
It's a lot. For reference, China’s Central Bank bought
of gold in March (~160,000
A funny side note: bunch of Costco members trying to
rack up credit card rewards buying the bars and then
re-selling them.
However, the scheme backfires because it's hard to
get market rate for the size of bar that Costco sells
per WSJ:
Costco won't buy the bar back or refund (it's basically
the only product you can't return at Costco)
There are 1,700 official bullion dealers in the and
they often buy 102 bars at a 5% discount
Online dealers have a smaller discount but then you're
paying $40+ per shipping
The volume of physical gold purchases from China,
Costco and other institutions is a major reason why
the price of gold is up ~50% since end 2022 while ETF
gold holdings are down (per The Economist).
Either way, stop trying to arb Costco credit card
rewards.
Just be a normal person and prep for the apocalypse
putting the Costco Gold under your mattress along
with Kirkland-branded hiking socks, comically
oversized cans of tuna and 2016 tubs of cashews.