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Gold Bars

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Former CIA Official Arrested After $40 Million in Gold Found at Virginia Home
crime6 hours ago

Former CIA Official Arrested After $40 Million in Gold Found at Virginia Home

A former senior CIA official, David Rush, was arrested after FBI agents found about 303 gold bars (roughly 1 kg each) worth more than $40 million, plus around $2 million in cash and 35 luxury watches, at his Virginia home. Court documents say Rush sought foreign currency and tens of millions of dollars in gold bars for “work-related expenses” between late 2025 and March 2026 and later received them; the CIA couldn’t locate the gold or currency, triggering an FBI investigation. Rush, who reportedly had top secret clearance, is charged with criminal theft of public money and is detained pending his hearing.”,

via BBC|
#cia#crime#david-rush
Ex-CIA Officer Allegedly Hoarded $40 Million in Gold at Home
politics10 hours ago

Ex-CIA Officer Allegedly Hoarded $40 Million in Gold at Home

A former CIA senior officer with top-secret clearance is charged with criminal theft of public money after authorities say he secretly stored about 300 gold bars worth over $40 million at his home and lied about his background for years. The FBI seized the gold, cash, and watches during a raid, and the case raises questions about the effectiveness of the government's continuous vetting and background-check programs for intelligence personnel.

via NBC News|
#cia#criminal-charges#fbi
"Sen. Bob Menendez Convicted in Federal Corruption Case"
finance1 year ago

"Sen. Bob Menendez Convicted in Federal Corruption Case"

Senator Bob Menendez was found guilty on multiple charges, with gold bars seized from his home being key evidence. The case highlights a broader trend of Americans investing in physical gold as a hedge against inflation and banking instability, with demand rising after recent bank failures. Despite the availability of gold ETFs, many prefer owning tangible gold for its perceived stability.

via CNN|
#banking-crisis#bob-menendez#finance
"Costco's Gold Bar Sales Soar to $200 Million Monthly"
business2 years ago

"Costco's Gold Bar Sales Soar to $200 Million Monthly"

Costco has seen a surge in demand for gold bars, selling as much as $200 million worth every month, with one-ounce bars priced at $2,300 each. The high demand has led to a limit of five bars per customer, reflecting gold's status as a hedge against inflation. Personal finance advisor Humphrey Yang humorously shared his unexpected purchase of a gold bar at Costco, highlighting the unexpected nature of the trend.

via Inside Edition|
#business#costco#demand
"Costco's Surging Gold Bar Sales Spark Interest in Precious Metals"
business2 years ago

"Costco's Surging Gold Bar Sales Spark Interest in Precious Metals"

Costco has been selling gold bars alongside its usual bulk items, with sales now reaching up to $200 million worth of gold and silver each month. The surge in sales is attributed to increased interest in gold during times of economic turmoil and geopolitical concerns. Despite the popularity, analysts believe that Costco's profit from gold sales is likely minimal due to pricing and shipping costs. The Commodity Futures Trading Commission has cautioned that investing in precious metals can be highly volatile, and experts recommend allocating only a small portion of assets to gold investments.

via Yahoo! Voices|
#business#costco#gold-bars
"Costco's Gold Bar Sales Soar to $200 Million Monthly"
business2 years ago

"Costco's Gold Bar Sales Soar to $200 Million Monthly"

Costco has been selling gold and silver bars since October, with analysts estimating monthly sales of up to $200 million. The bars sell out quickly, leading to online discussions on how to purchase them. Costco attributes the surge in e-commerce sales to the sales of precious metals, and the one-ounce gold bars, available only to members, have been reported to sell for around $2,000.

via The New York Times|
#business#costco#e-commerce
"Costco's Lucrative Gold and Silver Sales Reach $200 Million Monthly"
business2 years ago

"Costco's Lucrative Gold and Silver Sales Reach $200 Million Monthly"

Costco's sales of 24-karat gold bars are estimated to be between $100 million and $200 million per month, with the company also introducing silver coins to its online offerings. Despite the significant revenue, profits from these sales are low, but the move reinforces Costco's value position. The introduction of precious metals has boosted the company's e-commerce sales, and the popularity of the gold bars has led to positive customer ratings.

via Fortune|
#business#costco#e-commerce
"Costco's Gold Bar Sales Soar to $200 Million Monthly, Wells Fargo Estimates"
business2 years ago

"Costco's Gold Bar Sales Soar to $200 Million Monthly, Wells Fargo Estimates"

Costco is reportedly making $100 million to $200 million monthly by selling gold bars, priced at about $2,000 for 1-ounce bars of nearly pure 24-karat gold. Analysts view this move as reinforcing Costco's value position, despite it being a low-profit business due to pricing and shipping costs. The company also sells silver coins and has seen success in the metal market, coinciding with a 13.70% rise in gold prices since the start of 2024.

via USA TODAY|
#business#costco#gold-bars
"Costco's Silver Coin Sales Spark Gold Rush Frenzy"
business2 years ago

"Costco's Silver Coin Sales Spark Gold Rush Frenzy"

After the success of selling gold bars, Costco has turned to selling 1-ounce Canada Maple Leaf Silver Coins made of 99.99% pure silver, priced at $679.99 for 25 tubes. The coins feature King Charles III on one side and a maple leaf on the other, with a face value of 5 Canadian dollars each. Despite some reports of scratches on the coins, they have sold out online, following the $100 million in gold bars sold last quarter.

via Fox Business|
#business#costco#gold-bars
"Costco's Silver Coins Fly off Shelves, Following Gold Bar Success"
business2 years ago

"Costco's Silver Coins Fly off Shelves, Following Gold Bar Success"

Costco, known for bulk household products, is now selling precious metals like gold bars and silver coins to its members, with the gold bars selling out quickly and the silver coins also being in high demand. The retailer's CFO reported that the surge in e-commerce sales was led by sales of gold and silver. The move comes as the value of gold and silver is expected to climb in 2024 due to expectations of Federal Reserve interest rate cuts. Additionally, Costco's stock price fell after hitting an all-time high, with investors possibly anticipating a membership price increase, which the retailer hasn't done since 2017.

via USA TODAY|
#business#costco#gold-bars
"Costco Expands Precious Metal Offerings with Silver Coins Following Gold Bar Success"
business2 years ago

"Costco Expands Precious Metal Offerings with Silver Coins Following Gold Bar Success"

Costco has expanded its precious metals business by selling packs of one-ounce silver coins for $625 and 24-karat gold bars priced at about $2,000, leading to significant e-commerce sales growth. The silver coins, featuring enhanced security features, have faced some criticism from customers who reported scratches and packaging issues upon delivery. Despite this, Costco's diverse range of merchandise, including luxury items and unexpected finds, continues to attract shoppers.

via Business Insider|
#business#costco#e-commerce