Gold bullion is physical gold held for its metal content rather than any collectible, artistic, or face value. Investors, central banks, institutions, and dealers hold it as a store of value or reserve asset.
Gold bullion comes as bars, ingots, or coins with a stated weight and purity, commonly 99.5% or 99.99% gold depending on the product standard and the market where it trades.
Gold bullion prices track the global spot gold price, the same price quoted as XAUUSD, but the amount you pay or receive also reflects premiums, storage, insurance, dealer margins, and liquidity. Bullion is the physical metal; XAUUSD is price exposure to it.
You buy a 1-kilogram (2.2-pound) gold bullion bar at 99.99% purity.
Over the next month the global spot gold price rises, so the bar is worth more. Its value comes mainly from the market price of the gold it contains, not from any collectible premium.