Spot gold has jumped nearly 30% this year, successively hitting record highs. Its ferocious rally makes it not only one of the best-performing commodities, but also means that metal has

Gold’s increase is due to its reputation as a safe asset during economic and political uncertainty and its role in protecting wealth. Last month, gold prices went above $2,600 an ounce, helped by the Federal Reserve’s rate cuts, as gold usually rises when rates are low.

Costco sold out of one-ounce gold bars at 77% of its stores in early October, as shoppers snapped them up amid record high gold prices.

Costco is expanding its precious metals offerings, building on top of its rollout last year of gold bars, which often sold out within hours. The retailer is now adding 1-ounce platinum bars to its lineup.

The trend, based on calls made to 101 stores in 46 states, highlights a growing shift among shoppers to secure the tangible assets as a hedge against financial instability. The stores surveyed said they had restocked their gold products.

Costco (NASDAQ:COST), the US-based retail giant, has expanded its range of precious metals investments by introducing platinum bullion bars and coins to its product line. Following the successful launch of its gold bullion investment offerings in 2023,