Gold hit a record high this week as investors placed bets on future rate cuts from the Federal Reserve.

The commodity shot past $3,700 an ounce on Tuesday, Sept. 16, up from roughly $2,300 this time last year. On Wednesday, Sept. 17, gold was trading at $3,687.

Gold bars sold by membership-only warehouse club Costco flew off the shelves last year as investors sought to capitalize on price increases for the precious metal amid ongoing geopolitical issues.

The retailer first started offering 1-ounce gold bars to shoppers in 2023, but quickly sold out and has since struggled to keep up with demand. At one point, the company needed to implement purchase restrictions, limiting purchases to two bars per day .

The company also offers silver and platinum bars .

If you did buy a Costco g

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