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Gold Bars Are Worth About $2.1 Million — Will Prices Keep Rising?
By MONEY RESEARCH COLLECTIVE
Gold is performing better than the S&P 500 so far this year.
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Gold is trading around $5,150 per troy ounce as of February 2026, keeping the value of a standard gold bar far above the $1 million mark. And with a London Good Delivery gold bar typically weighing about 400 troy ounces, that puts the value of a single bar at roughly $2.1 million.
Why gold prices are rising
Historically, the price of gold often benefits when real (inflation-adjusted) yields fall—because the opportunity cost of holding a non-yielding asset declines—but that relationship isn’t perfectly stable across time or regimes.
That dynamic is part of the backdrop for gold’s latest strength, as the Federal Reserve is currently holding the federal funds target range at 3.5%–3.75%. Investors are watching upcoming FOMC meetings—next up March 17–18, followed by April 28–29, June 16–17, July 28–29, Sept. 15–16, Oct. 27–28, and Dec. 8–9—for clues on whether additional adjustments are coming later this year.
Another contributing factor has been bouts of stock-market turbulence. The Cboe Volatility Index (VIX) closed at 19.55 on Feb. 24—up about 35% from 14.51 on Jan. 2—reflecting a higher level of expected near-term equity volatility than at the start of the year.
In other words, when investors are jittery about stocks, they often shift more money into perceived safe havens like gold, which can add support to prices.
Gold’s performance vs. stocks
So far in 2026, gold has outperformed stocks. The S&P 500 is up about 0.5% year-to-date (from 6,858.47 on Jan. 2, 2026 to 6,890.07 on Feb. 24, 2026), while gold is up about 18.7% over the same span (from $4,332.38/oz on Jan. 2 to $5,143.44/oz on Feb. 24).
For context, the last comparable burst of momentum came during the early pandemic, when the precious metal hit a then-record of about $2,067/oz in early August 2020.
However, while the outlook for the stock market can remain constructive, pinning down gold’s next move is less precise. Equities are still highly sensitive to the Fed’s path: the Fed held the federal funds target range at 3.5%–3.75% at its Jan. 28, 2026 meeting, and market pricing has implied low odds of a cut by March, with higher odds later in the year (e.g., by June).
Those shifting rate expectations—along with renewed trade-policy uncertainty and ongoing geopolitical risks—could continue to support safe-haven demand for gold.
Always remember that gold is an alternative asset, and it is advisable to commit no more than 10% of your portfolio to the speculative investment.
More from Money:
Beginner’s Guide to Investing in Precious Metals