Costco’s golden rush may be hitting a sudden snag. The retail giant known for bringing everyday Americans unbeatable deals has now slammed the brakes on purchases of its coveted 1-ounce gold bars, restricting buyers to just one bar per transaction—down from two previously.
This move signals a cooling off of what was, until recently, a full-blown gold rush inside the aisles of the wholesale behemoth.
Why the crackdown? Savvy shoppers—some might say modern-day prospectors—had been snapping up Costco’s prized gold bars at a furious pace, turning them into a lucrative side hustle amid growing economic uncertainty. The bars, featuring brands like the PAMP Suisse Lady Fortuna Veriscan and South Africa’s Rand Refinery bullion, have become a hot commodity, as inflation worries and geopolitical tensions drive ordinary Americans toward the security of precious metals.
Even with the new limit, those who got in early are sitting on impressive gains. For example, the 1-ounce PAMP Suisse Lady Fortuna bar, currently listed at \$3,389.99 on Costco’s website including shipping, was going for just \$2,779.99 last year. That’s nearly a \$600 windfall for anyone who bought early—solid proof that gold remains a strong hedge against inflation and market volatility.
The craze has been impossible to ignore. A Bloomberg survey from last October revealed that around 77% of Costco stores across 46 states sold out their gold bars within just a week—even after restocking. Demand is so fierce, Wells Fargo estimated the retailer was raking in an eye-popping \$200 million a month just from gold bar sales.
Wells Fargo equity analyst Edward Kelly pointed to Costco’s “aggressive pricing” and “high level of customer trust” as key drivers behind this surge, noting the buzz wasn’t just in-store but exploded on social media platforms like Reddit. That digital momentum turned everyday shoppers into gold dealers overnight, accelerating demand well beyond what many expected.
One viral example is finance influencer Humphrey Yang, who shared his story of buying a PAMP Suisse gold bar for $2,359 in April 2024 and then flipping it to a gold dealer for nearly \$3,000—banking a quick \$600 profit. Since then, gold prices have continued to soar, recently hitting over \$3,300 an ounce, with Goldman Sachs boosting its year-end forecast to an eye-watering $3,700 per ounce.
What’s driving this gold fever? Many point to President Donald Trump’s tough tariff strategy, which has rattled markets and made investors nervous about inflation and the long-term stability of paper currency. The uncertainty sparked by these tariffs has made gold the go-to safe haven for those seeking to protect their wealth.
In fact, the jitters have become so intense that some of the biggest banks on both sides of the Atlantic reportedly flew gold bars from London to New York on commercial flights earlier this year—an extraordinary move reflecting the desperation to secure physical assets.
Costco’s decision to limit gold bar sales, while frustrating for some, underscores just how hot the market has become. But for Americans looking to protect their hard-earned savings against an unpredictable economy, gold remains the trusted refuge.
One thing’s for sure: The days of casually grabbing two gold bars at Costco might be over, but the appetite for America’s favorite precious metal shows no signs of fading anytime soon.
