The spot gold price in London, the global center for precious metals trading, hit a new record high of over $2500 per ounce last Friday. This made the price of a gold bar, typically weighing 400 troy ounces, surpass one million dollars for the first time. While there are slight variations, the London Bullion Market Association notes that gold bars traded globally generally weigh 400 troy ounces, but their pure gold content may range between 350 and 430 troy ounces. In addition to larger gold bars, smaller and less expensive gold bars are also available on the market for individual purchase, such as those sold by well-known U.S. retailer Costco. The historic breakthrough in gold prices not only reflects growing concerns about economic uncertainties in the global financial markets but also indicates an increase in demand for safe-haven assets among investors. This milestone event underscores the growing importance of gold as a traditional safe-haven tool, reinforcing its position as a choice for portfolio diversification in today's global economic environment.