After the record surge in global gold prices over the past few days, the value of a gold bullion bar has reached $1 million for the first time ever, as the price per ounce surpassed the $2,500 mark.
This milestone was achieved on Friday when the spot price of gold exceeded $2,500 per ounce, marking an all-time high. Since gold bars typically weigh around 400 ounces, this means each one is now valued at over $1 million.
There are some nuances to this figure. While gold bars in the London market—the global hub for precious metal trading—usually weigh about 400 ounces, they can contain anywhere between 350 and 430 ounces of pure gold, according to the London Bullion Market Association
