Historic moment! Gold bar price reaches $1 million

On August 20th, Jin10 Data reported that the spot gold price exceeded $2,500 per ounce last Friday, hitting a new record high. Gold bars usually weigh about 400 troy ounces, which means that the price of each gold bar has reached a milestone of over $1 million. Of course, there may be slight differences in the data. According to the London Bullion Market Association, gold bars in London, the global precious metals trading center, usually weigh about 400 troy ounces, but the pure gold content can also range from 350 to 430 troy ounces. In addition, there are smaller and lower-priced gold bars available for individual purchase, such as those sold by Costco.