DEFINITION of 'Ingot'
A material that has been cast into a shape in order to be transported and processed easier than in an unprocessed form. An ingot is typically rectangular in shape, which allows it to be stacked. Ingots are most commonly associated with metals, with ingots of gold held in the vaults of banks and brokerages being popular images.
BREAKING DOWN 'Ingot'
An ingot is formed by injecting or pouring molten liquid into a mold, where it will cool and take the shape of the mold. The process of creating ingots has been around for thousands of years, as molding metals into regular shapes made it easier to transport and store.