The gold rush at Costco is still going strong. Gold bars are flying off the shelves as bullion prices continue to rise, according to a Bloomberg survey.
Costco listed 1-ounce gold bars for $2,689.99 before tax. They sold out fast, causing a frenzy in stores. Costco’s prices are lower than traditional dealers and offer rewards to members, Bloomberg reports.
“It’s a great experience overall,” said Sourav Sethia, a 33-year-old from New Jersey. “I get calls from Costco when gold bars arrive since I’m a previous buyer. Whenever prices dip, I rush to buy one.”
While Costco didn’t respond to FOX Business, Bloomberg found that about 77% of stores with gold bars were sold out by early October. This is based on calls to 101 stores in 46 states, all of which had recently received stock.
Costco limits members to five platinum bars per transaction. However, once purchased, the bars are non-returnable, with delivery restrictions in Nevada and Louisiana, Fortune reported.
The price for each platinum bar is $1,089.99, according to Fortune.
Costco members have scrambled for gold and silver bars before.
Last September, then-CFO Richard Galanti told analysts that gold bars were “typically gone within hours” after being listed online.
Costco has seen a boost in online sales thanks to the demand for gold and silver bullion in recent months.