The value of the gold bar reached 1 million dollars for the first time

For the first time, a gold bar is worth $1 million, thanks to the price spike.

Gold bars weighing 400 troy ounces reached the million-dollar mark after the price of the precious metal soared above $2,500 an ounce. However, not all gold bars weigh 400 ounces.

The recent highs are a first for the precious metal.

Spot gold rose about 1% to $2,563 an ounce as of 10:45 a.m. ET, surpassing a previous record on Friday. London's benchmark gold price hit an all-time high of $2,521.55 an ounce in Tuesday morning trading, the London Bullion Market Association said.

https://nypost.com/2024/08/21/business/value-of-gold-bar-hits-1-million-for-first-time-ever