Article Synopsis
For the first time, a single gold bar has reached a value of $1 million, a milestone achieved when the spot price of gold surpassed $2,500 per troy ounce, an all-time high. Gold bars typically weigh around 400 ounces, making each worth over $1 million. However, there’s some variation in the weight of gold bars, ranging from 350 to 430 ounces. Smaller, more affordable gold bars are also available for purchase. This surge in gold prices has been driven by factors such as central banks purchasing 483.3 tons of gold in the first half of the year and expectations of looser monetary policy from the US Federal Reserve.
Gold Bars Are Worth a Million Dollars for the First Time
Aug 19,2024
Article from Bloomberg by Jack Wittels
Article Synopsis
