Costco enforces strict limit on gold bar purchases as value increases

Costco is limiting the number of gold bars its members can purchase while gold prices continue rising.

"Limit of 1 transaction per membership, with a maximum of 2 units per 24 hours," Costco's website says, for two different 1 oz. gold bar products from Rand Refinery and PAMP Suisse Lady Fortuna Veriscan.

Rand Refinery's bar sells for $3,249.99, while PAMP Suisse Lady Fortuna Veriscan's sells for $3,389.99. They are each 24-karat and non-refundable after purchase. 

Costco gold bar prices have risen since October 2024, and the wholesale retailer started selling them in 2023 and sold $100 million worth of them in the last quarter of that year. 

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Purchase limits have been tightened since earlier this year, when USA Today said Costco members could purchase five PAMP Suisse Lady Fortuna Veriscan gold bars per 24 hours, and could make two purchases per membership in 2023. 

Costco did not immediately respond to a FOX Business request for comment.

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On Friday, Reuters reported that gold prices were set for their biggest weekly loss since November. Despite that, gold's price has increased by more than 40% in the past year, BBC reported. 

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Reuters contributed to this report.