“Gold is historically a hedge against inflation. Americans are very worried at home, which is probably one of the reasons they’re at Costco to begin with,” Fox business correspondent Lauren Simonetti tells Inside Edition.
Costco is known for its massive packs of toilet paper and large piles of pants, but one item sold by the superstore had led to a modern-day gold rush.
Costco is seeing as much as $200 million worth of gold bars every month, according to Wells Fargo.
The store started selling one-ounce gold bars last August.
The bars go for $2,300 a bar.
The demand is so high that the maximum you can buy is five per customer.
Personal finance advisor Humphrey Yang says he went to Costco thinking he would buy a $2 snack.
“I ended up buying a gold bar for $2,359 so it’s kind of funny,” Yang tells Inside Edition.
Is gold a good investment?
“Gold is historically a hedge against inflation. Americans are very worried at home, which is probably one of the reasons they’re at Costco, to begin with,” Fox business correspondent Lauren Simonetti tells Inside Edition.
