gold bullion is not in our dictionary (yet). Here's what it could mean:

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noun

Precious metal of high purity, typically shaped into bars, ingots, or coins, and valued by its mass and fineness rather than a monetary face value.

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He said they would get the money "shipped abroad" to buy as much "gold bullion and diamonds as possible".

From BBC • Apr. 21, 2026

Spot gold ETFs track the price of physical gold bullion.

From Barron's • Feb. 24, 2026