What Costco’s Gold Bar Bonanza Tells Us About the Economy

Last December, wholesale retailer Costco announced that they had sold over $100 million worth of gold in Q3 2023. "You've probably read about the fact that we're selling one-ounce gold bars. We sold over $100 million of gold during the quarter," sad CFO Richard Galenti. Now, Wells Fargo estimates that Costco "may now be running at" $100 million to $200 million per month in gold sales. "Our work suggests there has been significant interest given COST’s aggressive pricing and high level of customer trust," said analyst Edward Kelly in a Tuesday…