Bullion

noun (uncountable)

/ˈbʊliən/

Gold or silver in bulk, uncoined form — typically as bars, ingots, or coins valued primarily by their metal content and purity rather than their face value or artistry. The Reserve Bank of India holds foreign-exchange reserves partly in gold bullion; as of March 2024, India's gold reserves stood at approximately 822 tonnes, making it among the largest official-sector gold holders in the world. India is the world's second-largest consumer of gold, with bullion demand driven by jewellery, investment, and central bank purchases.

✍️ Usage in a UPSC answer

The Union Budget 2024-25 reduced the basic customs duty on gold bullion from 15% to 6%, aimed at curbing smuggling and stimulating organised jewellery exports under the hallmarking regime.

Synonyms

ingot metalspecie (archaic)gold barprecious metalrefined metal

Antonyms

fiat currencypaper moneycoinage (numismatic)

🌱 Word Family

bullion market (noun phrase), bullion bank (noun phrase), bullionist (noun, historical), bullion reserve (noun phrase)

🔡 Root

Anglo-French bouillon = a boiling, melting place; Old French boillir = to boil; Latin bullire = to bubble

📜 Etymology

From Anglo-French bouillon (mint, melting house), derived from Old French boillir (to boil), reflecting the smelting process. The word entered Middle English in the 14th century. Over time it narrowed from 'a mint or place of melting' to 'the metal itself in ingot form', a semantic narrowing completed by the 17th century.

🧠 Memory Hook

BULLION sounds like 'BOILING' — gold that has been BOILED (melted) and poured into bars. Imagine a bubbling golden liquid cooling into shiny ingots.

💰 Indian Economy 📖 Seen in: Indian Economy — Growth, Planning & De...

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