Gold Tariffs Shake-Up: Is Costco’s Gold Bar Bonanza at Risk?

Brace for impact—new gold tariffs just dropped. The question on every retail investor's mind: Will warehouse gold go the way of the dodo?

Costco's surprise bullion play faces its first real test as trade policies tighten. The big-box disruptor's $100M+ gold bar experiment now stares down regulatory headwinds.

Wall Street snobs scoff while Main Street stacks. Because nothing says 'hedge against inflation' like buying commodities between toilet paper pallets.

Deciphering the new 39% tariff on gold

Scott Travers, editor in chief of COINage magazine, said that the new tariff didn't appear to apply to consumer gold buyers — however, he added that published guidelines are "ambiguous."

He noted that the 39% tariff ruling specifically targets 1-kilogram and 100-ounce gold bars.

"It doesn't look like there is any tariff on 1-ounce gold bars. And they're the predominant investment vehicle and traded asset in gold globally — 1-ounce gold bars," Travers told Yahoo Finance.

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Confusion erupted Friday because gold traders and analysts had understood the bars WOULD be exempt from reciprocal tariffs, including a 39% levy on Swiss goods imposed by President Trump. But when a gold refiner in Switzerland asked about it, CBP clarified that 1-kilogram and 100-ounce gold bars are subject to the levies, Bloomberg reported.

"I'm doing research on this and, you know, a lot of it looks ambiguous. And when you have ambiguity, you have speculation," Travers added.

What about Costco gold bars?

Costco (COST) sells Swiss-made, 1-ounce gold bullion bars to members via its website.

"The 1-ounce gold bars, which are used in the retail and most small investment transactions, don't seem to be mentioned here in the US Customs and Border Protection ruling," Travers said.

A spokesperson with Costco media relations told Yahoo Finance that they "don't comment on news reports."

Read more: What to know before buying gold at Costco

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What should gold investors do?

Gold prices soared on the tariff news, hitting an intraday high of $4,490 per ounce at one point Friday. So, what should prospective gold buyers do?

"Nothing," Travers said. "They shouldn't be buying on this speculative trend, and they shouldn't be selling their gold holdings based on assuming that other people are ignorant and are buying their gold with the belief that the 1-ounce bars are subject to the tariff."

Full disclosure: Travers admits he's not a fan of gold as an investment — he sees it more as a manner of "insurance" and a currency.

"In the event of collapse of fiat currencies, and God forbid, an attack on all of humanity, gold is the ultimate insurance policy, and you can use it to trade, you can use it to buy things with in an emergency," he said.

But whether for an investment or otherwise, his advice remains:

"Until this is clarified, I don't think anyone should do anything."

Hal Bundrick is a staff writer for Yahoo Finance and a Certified Financial Planner.