A gold bar is now worth $1 million ...Middle East

By Ramishah Maruf, CNN New York (CNN) — The price of a bar of gold is worth a million dollars for the first time, thanks to soaring prices for the precious metal. The price of spot gold reached more than $2,500 per troy ounce Friday, hitting a record high. The average gold bar weighs 400 troy ounces – which, when you do the math, hits a million dollars. Bloomberg News first reported the gold bar price. Spot gold prices have shot up more than 20% year to date. Higher gold prices can be a sign that investors expect the Federal Reserve to cut its benchmark interest rate soon. Central banks led by China are also buying up gold to ease reliance on US dollars. Central banks – and invest

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Last updated : 20 August 2024 clock 11:12 AM

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A gold bar is now worth $1 million ...Middle East

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