During its most recent quarter ending at the end of November, retailer Costco saw success with its online gold wafer sales.
“As for e-commerce, you’ve probably read that we sell 1 ounce gold bars. We have sold over 100 million [US] gold during the quarter,” said Richard A. Galanti, senior vice president and chief financial officer at Costco, during a call with stock analysts last Thursday.
We do not know the quantity sold. An estimate of 50,000 ounces seems realistic. Which represents 1.4 tonnes of gold in 90 days.
On Monday, Costco Canada offered its members an ounce at a price of $2,829.99.