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What does Bullion mean?

Precious metals such as gold or silver in the form of bars which are 99.5% pure minimum. Gold in standard form is known as bullion, and is traded on commodity markets commonly known as bullion markets. The traditional way of investing in gold is by buying bullion gold bars. Gold bullion can be cast into bars, or minted into coins. 

Futures Knowledge Explains Bullion

Bullion is a term used for gold, silver, platinum and palladium. Gold or silver billion meets standard conditions of extracting, manufacturing and refining. Bullion has a specified weight and purity.  Central banks, Governments, Gold ETF Trusts and other investors keep gold in the form of bullion. The London Bullion Market is the largest market for bullion. International price auctions for gold and other precious metals take place here on a daily basis. 

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