Costco is seeing a gold rush. What’s behind the demand for its 1-ounce gold bars?

NEW YORK (AP) — Looking for something to add to your Costco cart along with the 30 rolls of toilet paper? How about a bar of gold? While not a typical outlet for the sale of precious metals, the members-only warehouse chain has seen its 1-ounce gold bars sell out faster than discounted 170-ounce jugs of laundry detergent. Last week, CFO Richard Galanti said the 1-ounce gold bars, sold exclusively online, are typically gone within hours of appearing on Costco’s website — adding that there’s a two-bar limit per member. Although one or two ounces of gold won’t have a huge impact on diversifying one’s investment portfolio, experts note that there’s been increasing investor demand for precious metals. Still, it’s important to pause and evaluate investment prospects.