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Whether you’re after long-term investments or portfolio diversification, gold bars are a solid choice. As tangible assets, they resist market volatility and currency inflation. Each gold bar’s value depends on size, gold’s spot price, and market trends. As of October 14, a standard gold bar (400 troy ounces, 99.9% pure) is valued at around $1,063,200 ($2,658 per troy ounce) in the US. This article covers gold bar weights, pricing factors, and where to buy one.
Key Insights
A standard gold bar (weighing 400 troy ounces) is valued at approximately $1 million in the US, based on the current gold price of $2,658 per troy ounce.
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As of October 2024, the current price of 1-pound gold bar is worth approximately $38,752.
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Other gold brick sizes include a 1-kilogram bar worth $85,450 and a 500-gram bar worth $42,740.
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The regional gold price per gram varies, with the highest prices found in Germany, UAE, and the United States, all exceeding $80 per gram.
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What is the Worth of a Gold Brick?
As of October 2024, a typical gold brick, known as a Good Delivery Bar, is valued at around $1 million, based on the gold price of $2,658 per troy ounce. This standard gold bar weighs 400 troy ounces (~12.4 kg) and follows international and U.S. standards for central bank reserves and trading.
It’s important to note that gold weights are measured in troy ounces, used specifically for precious metals, and a troy ounce is slightly heavier than a regular ounce.
How Much Is a Pound (1 LB.) of Gold Bar Worth?
Since gold is measured in troy ounces, and 1 pound is equal to 14.5833 troy ounces. Based on the current gold price ($2,658 per troy ounce), 1 pound of gold is worth approximately $38,752.39, as of October 2024.
Other Gold Bar Sizes and Its Prices
Here’s a table to describe different weights with pure gold content, and their price based on the current spot gold price of $2,658 per troy ounce in the U.S.
| Gold Bar Size | Weight (Troy Ounces) | Approximate Value (USD) |
| Standard Gold Bar | 400 | $1,063,200 |
| 1 Kilogram Gold Bar | 32.15 | $85,450 |
| 500 Gram Gold Bar | 16.08 | $42,740 |
| 100 Gram Gold Bar | 3.22 | $8,560 |
| 50 Gram Gold Bar | 1.61 | $4,280 |
| 10 Gram Gold Bar | 0.32 | $855 |
Gold Price by Country
Gold prices vary country by country based on economic conditions, regional market prices, and currency rates.
What Affects the Price of Gold Bars?
Before the stock exchange and currency market, people used to collect gold as a form of wealth. Even now, investors, billionaires, central banks, and governments keep gold in their vaults.
Several key factors influence the price of gold bricks:
- Economic Conditions: Gold is used as a hedge against market volatility. When inflation rises, investors rely on gold to maintain their wealth. Thus, the demand for gold increases, causing the prices to shoot high.
- Regional Market Price: Gold prices fluctuate across countries due to factors such as political instability, economic crises, and conflicts. Investors seek gold as a safe-haven asset during uncertain times.
- Manufacturing Process: Gold bricks come in two forms—minted or cast. Minted bars are typically more expensive because of the additional refining, cutting, and polishing required during production.
- Interest rates: Low interest rates make gold more attractive since it doesn’t yield interest or dividends.
- Currency rates: Gold prices move inversely with the value of the U.S. dollar. When the dollar weakens, gold becomes cheaper for investors using other currencies, increasing demand and price.
- Supply and Demand: The global demand for gold in industries like jewelry, electronics, and investment, along with mining supply.
- London Bullion Market Association (LBMA): The LBMA Gold Price is set twice daily (at 10:30 AM and 3:00 PM London time) in U.S. dollars per troy ounce. The process is managed by the ICE Benchmark Administration (IBA) and involves an electronic auction system that reflects current market conditions and trading interests.
Did You Know: Global central banks have been net buyers of gold since 2010, further emphasizing its role as a long-term store of value.
How to Buy Gold Bars
Gold bricks, like 1 oz gold bars or kilo gold bars, are relatively easy to purchase, both online and in-person for American investors. You can buy them through online bullion dealers, such as APMEX, JM Bullion, SD Bullion, or local dealers in the US.
Investing in a Gold IRA
Another way is to open a Gold IRA (Individual Retirement Account). It is a self-directed IRA where you can buy physical gold and other precious metals as a retirement investment. Unlike traditional IRAs, which usually hold assets like stocks, bonds, or mutual funds, a Gold IRA holds physical gold in the form of gold coins or gold bullion bars.
Bottom Line
A standard gold brick, or Good Delivery Bar, weighing 400 troy ounces (~12.4 kg) is currently valued around $1,063,200 in the U.S., based on a gold price of $2,658 per ounce (as of October 2024). Gold's price depends on economic conditions, spot rates, and demand, making it a reliable investment option. Alternative bar sizes, like the 1-kilogram bar, are valued at $85,450. Gold IRAs offer a tax-efficient way to include gold in retirement portfolios.
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References
- World Gold Council. (2024). 2024 Central Bank Gold Reserves Survey. World Gold Council. Evaluated on Oct. 29, 2024.
Link - Gold prices - 100 year historical chart. Macrotrends. Evaluated on Oct. 29, 2024.
Link - Gold Price. Evaluated on Oct. 29, 2024.
Link - London Bullion Market Association. Evaluated on Oct. 29, 2024.
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