Costco Is Now Stocking Platinum Bars

Precious Wholesale

Costco (COST) is doubling down on peddling precious metals. 

Members of the warehouse club can now buy one-ounce platinum bars, priced at $1,089.99 a piece. This comes after Costco’s high-profile — and highly successful — foray into selling gold bars, which now bring in up to $200 million in monthly sales, per a Wells Fargo estimate cited by CNBC.

Safe Haven Surge

Investor interest in precious metals has grown in recent months as geopolitical tensions are sending investors to look for investments that fare well in times of turmoil. Gold in particular is considered such a safe haven – not least because you can buy a physical bar. Gold is often cited as a “store of value” referring to its more stable prices compared with other investing products. As a result, the spot price of gold has surpassed key milestones.

But other precious metals are catching up. The price of platinum is up roughly 15% in the past 12 months. 

Commodity Investments

Despite this precious metals rush and the category’s safe haven label, there are reasons to be cautious before investing in commodities.

For one, buying a physical bar of any metal is harder to sell, and thus liquidate, than financial investments, such as an exchange-traded fund (ETF) focused on precious metals. Second, even though metals could provide a path to diversify an investment portfolio, metals prices move in relation to things like the value of the U.S. dollar, the broader economy, and geopolitical risks.

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