‘We Sold Over $100 Million of Gold During the Quarter’: Costco CFO

The blockbuster sale comes as gold prices hit an all-time intraday high this month and are expected to remain elevated next year.

Costco customers push shopping carts through the parking lot of a Costco store in Richmond, Calif., on March 13, 2020. Justin Sullivan/Getty Images

Wholesale retailer Costco sold more than $100 million worth of gold in the most recent quarter, with gold bars seeing high demand from customers.

“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 [that ended Sept. 30],” Richard Galanti, the chief financial officer of Costco, said during an earnings call on Dec. 14. This was the first quarter of fiscal 2024 at Costco.