Costco gold bar prices soar 125% in two years, market demand remains strong

In an era when everything is rising, the price of Costco's most representative "hot dog and soda" deli meal set has remained unchanged. However, not all Costco products are the same and can maintain their original prices for a long time. Foreign media pointed out that the price of one Costco product has soared by 125% in just about 2 years: gold. Even as prices continue to rise, market demand remains strong, and stores have even begun to limit the quantities members can purchase.

Moneywise reported that Costco will start selling 1-ounce gold bars at the end of 2023. At that time, it mainly offers two options: PAMP Suisse Lady Fortuna Veriscan and Rand Refinery, priced at US$1,979.99 and US$1,949.99 respectively. Although the unit price is quite high, gold bars quickly became a popular commodity after their launch.

By September 11, 2026, the price of PAMP Suisse 1 ounce gold bar has reached US$4,459.99, which is an increase of approximately 125% compared to US$1,979.99 at the end of 2023.

The retail price of Costco gold bars is slightly higher than the market price, with the main difference coming from related fees. The sharp rise in gold bar prices is closely related to the trend of the gold market in recent years. Gold performed strongly in 2025 and fell back in early 2026, but prices have gradually stabilized since then. While gold prices are rising, Costco gold bars are still attracting attention from investors, and there are even situations where purchases are required to be restricted.

According to the Costco website, members are currently clearly restricted in their purchases of gold bars. Each member can only make one transaction per 24 hours, with a maximum purchase of 4 units. This also reflects that even though the price of gold bars has increased significantly, market demand has not significantly subsided.

The reason why gold is favored by investors is mainly related to its long-term reputation as a hedging and safe-haven asset. Unlike legal tender, the supply of gold is limited by natural resources and cannot be directly printed in large quantities by the central bank like currency. Therefore, it has long been regarded by some investors as a tool to preserve purchasing power.

Furthermore, gold is not directly dependent on a single country, currency or economy. When the economy is in turmoil or geopolitical risks increase, some investors will turn to gold, thereby boosting market demand and prices.

Gold is also often used to diversify portfolio risk. When the stock or bond market suffers a major shock, gold can sometimes remain relatively stable or even rise against the trend, so it is regarded by some investors as a tool to reduce the volatility of the overall portfolio.

Ray Dalio, founder of Bridgewater Associates, a large global hedge fund, has also talked about the importance of gold in the past. He believes that the average investor's portfolio usually does not allocate enough gold, and gold can play an effective diversification role when the market enters difficult times.

However, unlike stocks and bonds, gold is essentially a physical asset. When investors purchase gold bars or coins, in addition to paying attention to the gold price itself, investors also need to pay attention to the premium charged by retailers relative to the spot gold price, as well as related costs such as storage and custody.