Is 22 KT gold, considered gold BULLION?

I thought only 24 KT was BULLION.

Public Comments

1. everything i have seen labeled bullion was 99.9% pure.
2. yes i think so
3. According to http://coins.about.com/od/coinsglossary/g/bulliondefined.htm Definition: Bullion is the pure form of a precious metal such as gold, silver, copper, or platinum, from which coin metal alloys are made. This would mean 24K for gold. That would also mean that by definition 22K is not bullion.
4. yes, it can be. although gold in bullion form is mostly pure, or 24K, or .999, the term bullion itself does not imply any standard of purity. "Bullion refers to any precious metal in a form in which its primary value comes from the worth of the metal, not from an artificial currency value. Bullion is most often traded in the form of coins minted by national governments, or in bulk ingots." so Krugerrands are still bullion, even as they are 22K, or .917 gold. they weigh a little more than 24K coins or bars of the same value.