Bullion is a term for precious metal, usually gold or silver, in bulk form and high purity, often as bars or ingots rather than jewelry or coins. In some contexts, it can also mean precious metal held as an investment or used for further refining.

Quick Scoop

  • Common meaning: gold or silver in bulk.
  • Typical forms: bars, ingots, or refined metal blocks.
  • Broader use: some sources also include other precious metals like platinum and palladium.
  • Not to confuse with “bouillon,” which means broth.

Example

A gold bar stored in a vault is bullion, while a gold necklace is not usually called bullion.

Note

The word can also refer to decorative gold or silver thread used in clothing or embroidery.

TL;DR: bullion means refined precious metal, usually gold or silver, kept in bulk form for storage, trade, or investment.