The international gold price has surpassed $2,500 per ounce, marking the first time in history that the price of one gold bar has exceeded $1 million, or approximately 1.33 billion Korean won.
The spot price of gold traded at $2,501.74 per ounce around 1:41 p.m. on the 19th local time, a 0.2% decrease from the previous trading day.
The international gold price rose to $2,509.65 per ounce on the 16th, surpassing $2,500 per ounce for the first time in history before entering a period of consolidation.
Bloomberg reported that with the international gold price exceeding $2,500 per ounce for the first time, the price of one standard gold bar has also surpassed $1 million.
Standard gold bars, which central banks commonly hold, are usually produced in weights of 400 ounces each.
The international gold price has been on the rise since the end of last month due to expectations of a Fed interest rate cut in September and escalating geopolitical tensions in the Middle East.
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