Costco sells $100m in gold bars in most recent quarter

Retailer began selling bars of 24-karat gold online in September, with each release selling out within a few hours'

Known for selling goods in bulk, Costco's latest such offering - gold bars - has proved a hit, with $100m worth sold in the most recent quarter, Business Insider reported.

With demand for the precious metal rising globally amid the economic uncertainty of the past few years, Costco in September began selling 1oz (28g) bars of 24-karat gold exclusively online, with Costco members eligible to buy two apiece. The retailer has more than 72m paid memberships.