You Bought Gold at Costco. What Are the Taxes When You Sell It?

Gold continues to shine, with the spot price seeing a 21% increase over the last year, reaching approximately $2,360 per ounce. Buyers are showing strong interest in purchasing gold bars and coins from Costco, as well as investing in funds that hold bullion. Many buyers perceive gold as a hedge against chaos rather than a traditional asset, allowing them to overlook potential taxes on gold sales. This mindset is fueled by the belief that circumstances may lead to a situation where there is no authority like the Internal Revenue Service.