Gold is at an all-time high—here's what a Costco bar bought a year ago is worth now

With gold prices jumping to a new all-time high Wednesday, you might be wondering how much that gold bar you bought at Costco could be worth today.

As of Wednesday morning, gold traded around $3,549 per ounce, which is roughly 42% higher than a year ago.

If you bought a Costco gold bar last year, it would likely fetch much more today than you paid. Still, some of those gains will be reduced once you factor in dealer fees and taxes.

Investors tend to seek out gold during times of uncertainty. Gold often gains when interest rates fall, because lower yields make assets that don’t earn interest, like gold, more appealing, according research by the Federal Reserve Bank of Chicago. Currently, inflation concerns and economic uncertainty are adding to the momentum, say Jon Ulin, a certified financial planner based in Boca Raton, Florida.

“With two wars ongoing, trade tensions, U.S. debt concerns and fears over [Federal Reserve] independence, gold’s traditional ‘fear hedge’ role remains strong,” Ulin says. “It’s beating bonds at providing portfolio safety.”