Buyer Beware: Costco Gold Is Easier to Purchase Than Sell
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There's been a gold rush at Costco. As prices of the precious metal hit all-time highs on numerous occasions this year, it's fueled a buying spree for gold bars being sold by the members-only warehouse club.
Wells Fargo analysts said they expect Costco's revenue from gold sales to be between $100 million and $200 million per month. But despite the frenzy, some members may experience buyer's remorse if they try to sell their gold in the near future.
For one thing, the price of gold can be volatile. It has retreated from a high of $2,391 per troy ounce set on April 19 to $2,324 per troy ounce today. Additionally, investors holding the physical metal and hoping to sell at a profit may discover that gold bars aren't as easy to offload as gold stocks or gold ETFs.
Learning how to sell your gold is as important as knowing how to buy it. Here's what to know.