n.

1. 1. Gold or silver considered with respect to quantity rather than value.
   2. Gold or silver in the form of bars, ingots, or plates.
2. A heavy lace trimming made of twisted gold or silver threads.

[Middle English, ingot of precious metal, from Anglo-Norman, from Old French billon (from bille, stick; see billon) and from Old French bouillon, bubble on the surface of boiling liquid (from boilir, to boil; see boil¹).]

Gold and silver that is officially recognized as high quality (at least 99.5% pure), and is in the form of bars rather than coins.

Investopedia Says:
Traditionally, bullion has been a good hedge against inflation.

Related Links:
Despite its historic and symbolic appeal, this metal is simply a commodity. Here we explore its meaning as an investment. What Is Wrong With Gold?
Think the value of gold is unshakable? Read this chronicle of its rise and fall. The Gold Standard Revisited
The quest for this shiny commodity has made millionaires of paupers and, on the flip side, ruined many an investor. Using Technical Analysis In The Gold Markets

Gold or other precious metals in bar or coin form. The major gold trading centers are London and Zurich, with gold futures trading based in New York. Monetary reserves of central banks are kept mostly in gold bullion. See alsoEarmarked Reserves; Gold Fix.

IN BRIEF: Gold or silver bars (before coining).

The robbers ran off with a thousand bars of gold bullion, stolen from Fort Knox.

Tutor's tip: A "billion" is a thousand million in the United States or a million million in Great Britain. "Bouillon" is a clear soup, while "bullion" is uncoined gold or silver.

Dansk (Danish)
n. - møntmetal, umøntet guld, umøntet sølv

Nederlands (Dutch)
onbewerkt goud/zilver, garnering van zilver/ goud

Français (French)
n. - lingots, frange de cannetille

Deutsch (German)
n. - ungemünztes Edelmetall, Edelmetallbarren

Ελληνική (Greek)
n. - πολύτιμο μέταλλο (χρυσός ή άργυρος) σε ράβδους

Italiano (Italian)
lingotto

Português (Portuguese)
n. - prata (f) ou ouro (m) maciço, ouro (m) ou prata (f) em barras, borla (f)

Русский (Russian)
необработанный благородный металл

Español (Spanish)
n. - oro o plata en lingotes

Svenska (Swedish)
n. - omyntat guld, guldtacka

中文（简体） (Chinese (Simplified))
金银, 纯金, 金银块, 金银丝花边

中文（繁體） (Chinese (Traditional))
n. - 金銀, 純金, 金銀塊, 金銀絲花邊

한국어 (Korean)
n. - 금은괴

日本語 (Japanese)
n. - 金塊, 地金

العربيه (Arabic)
‏(الاسم) سبائك معادن نفيسه كالذهب و الفضه‏

עברית (Hebrew)
n. - ‮מטיל-כסף, מטיל-זהב‬

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gold bullion price history	2000 silver bullion american eagle coin