CostcoCOST

is going platinum, and we’re not talking about vinyl records or membership tiers but with precious metals. On the heels of selling an estimated $200M in gold bars monthly, the warehouse kingpin has added 1-ounce platinum bars to its precious metals lineup. Platinum’s versatility as an industrial workhorse and valuable asset makes it a shiny new opportunity for both speculators and shoppers.

• Costco’s 1-ounce platinum bars, priced at $1,089.99, boast 999.5 purity. While physical metals can be harder to sell, making them more of a long-term investment, this move adds to Costco’s lucrative business.
• Platinum is widely used to reduce emissions from combustion engines and is crucial in hydrogen production, a clean energy source. Although it has risen 15% annually, it still trails gold’s popularity, which surged 40%.

The future is golden platinum: EverBank’s President of World Market foresees substantial gains for platinum, given its growing role in clean energy and safe-haven appeal. Stricter emission standards and “the industrial recovery combined with geopolitical risks provides a unique environment … to outperform,” he notes. On the supply side, a projected 2024 shortage of 598K ounces adds further pressure. Costco may have just set the new gold standard.