Costco's 0.36% Rally and $2.15B Volume Rank 27th as Gold Tariffs Shake Markets

Costco (COST) closed on August 8 with a 0.36% gain, trading with a daily volume of $2.15 billion, ranking 27th in market activity. The stock’s performance coincided with a broader market reaction to U.S. customs rulings affecting gold imports, which indirectly influenced investor sentiment toward the retailer.

U.S. Customs and Border Protection (CBP) announced a 39% tariff on 1-kilogram and 100-ounce gold bars, creating uncertainty in bullion markets. Costco, which sells 1-ounce Swiss-made gold bars to members, appears less impacted as the ruling does not explicitly target the smaller bars. Analysts noted ambiguity in CBP guidelines, with some suggesting the tariff could disrupt global gold supply chains but not directly affect Costco’s retail offerings. The company declined to comment on the development.

Gold prices surged to record highs following the announcement, driven by speculative trading and concerns over logistical disruptions. Traders and industry experts emphasized the potential for prolonged market volatility until clarity is provided. UBS strategist Joni Teves highlighted that tariffs could strain the U.S. futures market’s reliability, while Swiss industry groups expressed concerns over the implications for bilateral trade. The Swiss Precious Metals Association warned of risks to the physical exchange of gold with the U.S., a key partner for Switzerland.

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