On Friday, spot gold prices surpassed $2,500 an ounce, a new all-time high, and gold bars typically weigh around 400 ounces, meaning that each gold bar has hit a milestone of more than $1 million. Of course, there are nuances to the data. According to the London Bullion Market Association, in London, the global hub for precious metals trading, gold bars typically weigh around 400 troy ounces, but the pure gold content can also be between 350 and 430 ounces. In addition, there are also smaller, lower-total gold bars for individual purchase, such as those sold by Costco.