Costco has jumped into selling a new precious metal: 1-ounce platinum bars, according to a Wednesday report from Fortune.
There's good reason to believe this warehouse retailer will still be thriving in 10 years.
Costco (COST) has started selling 1-ounce platinum bars on its website, adding to its existing gold and silver offerings.
When it comes to precious metals, gold is still often all that glitters, experts say.
The wholesale retailer on Wednesday announced it is selling 1-ounce platinum bars and platinum coins on its website.
An apparent tailwind hit yesterday's value stocks, a new development seen in the declining shares of Costco Wholesale Co. COST after the company released its latest set of quarterly earnings this week. Costco stock is now down over 2% after the report, a bearish sentiment that comes despite the Federal Reserve (the Fed) recently cutting interest rates by the most since the 2008 financial crisis.
Costco Wholesale Corporation (NASDAQ:COST, ETR:CTO) has added a third precious metal to its offering: platinum. After seeing high demand for its gold and silver items, the membership warehouse club has added two platinum products to its online store.
Costco launched platinum bars on its website for $1,089.99, an addition to the company's precious metals selection of gold bars and silver coins. Gold bars launched at Costco in August 2023, and not even two months later were selling out within hours of a restock.
These market-beating stocks have high price tags.
For all its size and power, Costco stands to take an economic hit from a worsening labor dispute.
Costco (COST) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.