A survey of stores across 46 states revealed how hard it is for the retailer to keep its gold products stocked even as prices for the metal continue to climb.

Gold’s increase is due to its reputation as a safe asset during economic and political uncertainty and its role in protecting wealth. Last month, gold prices went above $2,600 an ounce, helped by the Federal Reserve’s rate cuts, as gold usually rises when rates are low.

Gold’s breathtaking surge in 2024 to repeated record highs has not stopped bullion from flying off shelves at Costco stores across the US. Costco’s one-stop shopping convenience is taking gold buying to the masses by offering prices that undercut traditional precious metals Add to that gold’s appeal as a safe haven and hedge against inflation,

Costco appears to have found a revenue mine with sales of gold bars, as a survey found that some warehouses are unable to keep them on shelves. Bloomberg found that 77% of the 101 stores it surveyed in the first week of October had sold out of the bars,

In a striking display of shifting consumer behavior, Costco Wholesale gold bars are disappearing from shelves faster than they can be restocked. During the first week of October,

Move over, gas and hot dogs. Costco shoppers are snatching up the store’s 1-ounce gold bars despite the market’s lofty price for the precious metal.