Latest news with #RandRefinery
Yahoo
5 days ago
- Business
- Yahoo
Costco's 1-ounce gold bars have surged 73% in price in 2 years — but now the retailer is restricting purchases
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. For bargain hunters, Costco has long been a go-to destination. The warehouse giant famously still sells its hot dog and soda combo for $1.50 — the same price it launched with back in the mid-1980s. But not every Costco item has held its price as stubbornly as the hot dog combo. Case in point: gold bars. Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how BlackRock CEO Larry Fink has an important message for the next wave of American retirees — here's how he says you can best weather the US retirement crisis Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) In late 2023, Costco began selling 1-ounce gold bars. At the time, shoppers could choose between two types: the PAMP Suisse Lady Fortuna Veriscan bar and the Rand Refinery bar, priced at $1,979.99 and $1,949.99, respectively, according to Business Insider. Despite the hefty price tag, both quickly became hot sellers. 'When we load them on the site, they're typically gone within a few hours,' then-CFO Richard Galanti said during a September 2023 earnings call. 'And we limit two per member.' Fast forward to today, and not much has changed — except the price. As of June 2, 2025, the Rand Refinery 1-ounce bar is listed at $3,369.99, while the PAMP Suisse version is priced at $3,389.99. That marks a 73% and 71% increase, respectively, in less than two years. But the jump in price is in line with the broader gold market, which has surged roughly 72% over the same period. What's more surprising is the continued demand. Both the Rand Refinery and the PAMP Suisse gold bars are out of stock on Costco's website at the time of writing, and the company has tightened purchase limits. Customers are now restricted to 'one transaction per membership, with a maximum of two units per 24 hours.' Gold has long been viewed as a way to preserve purchasing power. Unlike fiat currencies, it can't be printed at will by central banks. It's also considered a classic safe haven. Gold isn't tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher. That's exactly what appears to be happening now. Markets are getting whipsawed by tariff uncertainty, rising deficits and global tensions — and gold has emerged as a rare bright spot. Many high-profile investors are sounding bullish. Jeffrey Gundlach, founder of DoubleLine Capital and known as the 'Bond King,' recently predicted that gold could climb to $4,000 an ounce. Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, also highlighted gold's importance as part of a resilient portfolio. 'People don't have, typically, an adequate amount of gold in their portfolio,' he told CNBC. 'When bad times come, gold is a very effective diversifier.' While Costco has imposed purchase limits on its gold bars, many bullion dealers still offer gold coins and bars without such restrictions. Just be sure to check the premium — dealers (including Costco) typically sell gold at a markup over the spot price. Another way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an option for those looking to help shield their retirement funds against economic uncertainties. When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in silver for free. Read more: You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Gold isn't the only asset investors turn to for preserving their purchasing power — real estate has also proven to be a powerful tool. When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that adjusts for inflation. Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has jumped by more than 50%, reflecting strong demand and limited housing supply. Of course, high home prices can make buying a home more challenging, especially with mortgage rates still elevated. And being a landlord isn't exactly hands-off work. Managing tenants, maintenance and repairs can quickly eat into your time (and returns). The good news? You don't need to buy a property outright — or deal with leaky faucets — to invest in real estate today. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class. Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: Browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving positive rental income distributions from your investment. Another option is Homeshares, which gives accredited investors access to the $35 trillion U.S. home equity market — a space that's historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property. With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets. Access to this $22.5 trillion asset class has traditionally been limited to elite investors — until now. Here's how to become the landlord of Walmart or Whole Foods without lifting a finger Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Are you rich enough to join the top 1%? Here's the net worth you need to rank among America's wealthiest — plus a few strategies to build that first-class portfolio This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
Zawya
22-04-2025
- Business
- Zawya
South Africa's Rand Refinery Chief Executive Officer (CEO) Joins Mining in Motion 2025
Praveen Baijnath, CEO of Rand Refinery, has been confirmed as a speaker at the Mining in Motion 2025 Summit, scheduled for June 2–4 in Accra. Baijnath will contribute to the panel discussion, Medium to Long-Term Funding Models for Artisanal and Small-Scale Mining, which will explore innovative financing mechanisms aimed at improving financial accessibility for small-scale miners. As the head of the world's largest integrated single-site precious metals refining and smelting complex, Baijnath brings a critical perspective on the downstream sector's role in strengthening artisanal mining, supporting sector-wide growth and delivering value-added products tailored to African markets. Ghana's small-scale gold mining activities generated $5 billion in export revenue in 2024, while South Africa accounted for 60.5% of Ghana's gold exports to other African nations – highlighting the deep interconnection between the two countries' gold sectors. Rand Refinery's major shareholders are also key players in Ghana's upstream gold industry. AngloGold Ashanti, which owns 42.5% of Rand Refinery, operates major Ghanaian mines including Iduapriem and Obuasi. Gold Fields, holding a 33.15% stake, manages the Tarkwa and Damang mines. Baijnath's participation is expected to foster stronger collaboration between South Africa and Ghana, promoting sustainable and inclusive development within the gold mining sector. Organized by the Ashanti Green Initiative in partnership with the World Bank, World Gold Council and other international stakeholders, Mining in Motion 2025 will be held under the theme Sustainable Mining&Local Growth – Leveraging Resources for Global Impact. The event will welcome top-level decision-makers, including H.E. John Dramani Mahama, President of Ghana, along with representatives from the African Union, ECOWAS, the United Nations and the private sector. Distributed by APO Group on behalf of Energy Capital&Power. Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting small-scale miners and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting For sponsorship opportunities or delegate participation, contact sales@
Zawya
14-04-2025
- Business
- Zawya
Rand Refinery Joins Mining in Motion Summit as Silver Sponsor
Rand Refinery Limited, the world's largest integrated single-site precious metals refining and smelting complex, has joined the upcoming Mining in Motion 2025 Summit as a Silver Sponsor. The participation of Rand Refinery underscores the company's commitment to strengthening Ghana's gold sector and highlights a drive to fostering responsible gold mining, exports and processing practices. Rand Refinery Limited plays a crucial role in driving the growth of Ghana's gold upstream sector, providing services such as smelting, evaluation, refining and recovery of previous metals. The company's largest shareholders operate some of Ghana's largest mines. Notably, AngloGold Ashanti operates the 268,000 ounce-per year (oz/y) Iduapriem mine and the 224 oz/y Obuasi mine, while Gold Fields manages the Tarkwa facility. Meanwhile, Rand Refinery has the exclusive rights to refine gold recovery company Goldplat's Ghanaian production. An agreement is in place whereby Goldplat has first right of refusal to process all Rand Refinery's by-products not suitable for its own refining process. As Ghana maximizes the growth of its gold sector through collaboration with global partners, enhancing cooperation with investors such as Rand Refinery Limited is critical. The firm's participation at Mining in Motion demonstrates its dedication to strengthening relationships within the Ghanaian gold industry and to unlocking growing prospects within the upstream and downstream sectors. Mining in Motion is organized by the Ashanti Green Initiative in partnership with the World Bank, the World Gold Council and other international stakeholders. The event brings together key decision-makers, including H.E. John Dramani Mahama, President of Ghana, alongside public and private sector leaders from the African Union, the Economic Community of West African States and the United Nations, to discuss the future of gold mining. Stay informed about the latest advancements, network with industry leaders, and engage in critical discussions on key issues impacting small-scale miners and medium to large scale mining in Ghana. Secure your spot at the Mining in Motion 2025 Summit by visiting For sponsorship opportunities or delegate participation, contact Sales@ Distributed by APO Group on behalf of Energy Capital&Power.
CBS News
18-03-2025
- Business
- CBS News
Costco gold: Everything to know about buying the metal at the retail chain
Americans are increasingly turning to gold for stability as economic uncertainty continues. Last year, interest in gold catapulted to new heights, primarily due to a weak economy and heavy central bank purchases around the globe. Consequently, the spot price of gold surpassed even the most optimistic experts' opinions, hitting new peaks in 2024 and continuing into 2025. Amid disappointing economic reports, stocks plummeted last week , and both the S&P 500 and the Dow Jones Industrial Average fell by 1.7%, marking their worst one-day decline of the year. Meanwhile, the price of gold is up over $250 per ounce since the start of the year (as of February 27, 2025). While the economy certainly figures heavily, gold's upward trend also reflects rising interest in this precious metal. If you're exploring purchasing gold online or in person , it may be an opportune time before prices rise again. You can even purchase gold at Costco and other big retailers — but should you? Find out how to add gold to your portfolio today . Here's what you need to know to help guide your decision. Costco offers members an opportunity to purchase one-ounce gold bars in the store, online or via their app. The retailer offers gold bullion bars, 1-ounce bars and coins in different designs. As of February 2025, Costco offers the following gold products: Costco's selection comes from authorized dealers and reputable mints. However, as Costco members are accustomed to, offerings and availability may change. Explore your gold investing options online now . Costco marks up its cost for gold by roughly 2%. Markup is common practice among gold dealers and retailers, and 2% is on the low end of industry standards. For example, the spot price of gold is about $2,850 per ounce currently (as of February 27, 2025). At the same time, a 1-ounce, 24-karat gold bar at Costco runs slightly higher at just over $2,900. The Costco member price for a one-ounce gold American Buffalo Coin is marginally higher at about $3,030 and is limited to one transaction per membership with a five-unit daily maximum. The company also offers a larger 100-gram, 24-karat gold bar from Rand Refinery for about $9,450 with a maximum purchase limit of two units per day. When you think of purchasing gold, Costco may not be the first place that comes to mind. However, the retailer is a convenient option that delivers some distinct benefits, such as: While Costco's gold offerings provide several worthwhile benefits, it's not without its downsides. It's wise to consider these potential concerns before purchasing gold from Costco. In addition to gold bars and coins, Costco offers a limited selection of precious metals online, including silver and platinum . You can buy the 2024 one-ounce PAMP American Buffalo silver round in sets of 20. Customer satisfaction is high, with 788 reviews giving the coins an average rating of 4.8 out of 5 stars. If you're looking to diversify your portfolio with platinum, Costco offers members a one-ounce PAMP Suisse Lady Fortuna Veriscan platinum bar. This is 99.95% pure platinum and certified for authenticity. If you're considering purchasing gold, Costco may provide a convenient option to buy gold bars and coins. Bear in mind, though, that gold prices fluctuate and the metal's recent historic run doesn't guarantee future results will be the same. But with commodities analysts adjusting their gold price projections for 2025 upward, this may be a good time to purchase the yellow metal before its price rises further.
