Costco reportedly selling new precious metal: platinum

Published On Oct 3, 2024, 5:18 AM

Costco is now selling a 1-ounce platinum bar on its website, marking the retailer's entry into the precious metals market, which previously included gold and silver. The platinum bars are priced at $1,089.99 each and are subject to a purchase limit. Reviews for this product have been appearing over the last couple of months, indicating demand. Costco has seen significant interest in its gold and silver bullion offerings in the past, with these items often selling out quickly after being listed. The company's move into selling platinum could further strengthen its e-commerce sales and attract more customers interested in investment-grade metals.

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Costco's expansion into precious metals like platinum aligns with a trend of increasing consumer interest in alternative investments during economic uncertainty. This could potentially boost their sales and attract more members to their Costco membership, especially among those seeking to invest in commodities. As gold and silver sales have been robust in the past, the addition of platinum may lead to a positive response in overall sales growth for Costco. Moreover, Costco's reputation as a trusted retailer may drive higher sales of these products as well.

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