The company sold more than $100 million in gold bars in a three-month period between September and November 2023. It's betting that platinum will do just as well.

Costco Wholesale (COST) is getting further into the precious metals business. While gold bars and silver coins have previously been top of mind for shoppers, the retailer is now adding a third precious metal: platinum.

Costco is trying to replicate its recent success with gold bars, with platinum joining the extensive list of precious metals that collectors are snapping up at the retailer. In 20

Costco is expanding its precious metals offerings, building on top of its rollout last year of gold bars, which often sold out within hours. The retailer is now adding 1-ounce platinum bars to its lineup.

While platinum is used in jewelry, much like gold, it has more relevance as an industrial metal. It finds its way into everything from gas-powered or hybrid vehicles — specifica