China’s historic devaluation of the yuan this summer fuelled a gold bar and coin “buying spree” in the country as investors sought to shelter themselves from further market volatility, according to the World Gold Council.
Lower gold prices pushed up overall gold demand by 8pc in the third quarter to 1,120.9 tonnes compared with a year earlier, following an early sell-off by Western investors anticipating a US interest rate rise.
This represents the strongest demand since the second quarter of 2013.Read More (UK Telegraph)
China has made its first subsea gold discovery with the location of a multi-billion-dollar gold deposit in the water of the Bohai Sea. The deposit is estimated to contain over 470 tons of gold in 2,000 meters of water.
Recovering the gold will be challenging for the nation and could require more than 1,000 people working simultaneously, reports China Daily.
A “significant” hoard of Anglo Saxon gold unearthed by a metal detector in a Leeds field is to go on show.
Seven objects including four rings, which date between the seventh to 11th Centuries, were discovered in separate searches in 2008 and 2009. Read More (BBC)
Coins will be available in denominations of 5 and 10 grams while bar or bullion of 20 grams through MMTC outlets. The PM also launched the Gold Monetisation Scheme (GMS) and Sovereign Gold Bond Scheme.Read More (IndiaTimes.com)
The valuable collection dates back to the reign of Ethelred the Unready in the 990s, The declaration means that the finder, Paul Coleman, will get a large share of the expected £1.3million value.
The Lenborough Hoard is a hoard of more than 5,000 late Anglo-Saxon silver coins, dating to the eleventh century, that was found at Lenborough in Buckinghamshire, England in 2014. It is believed to be one of the largest hoards of Anglo-Saxon coins ever found in Britain. Read about The Lenborough Hoard at Wikipedia here.
A 16-year-old holidaymaker has found a 500g (1lb) gold bar worth €16,000 (£11,500) while swimming in a lake in Germany, police say.The teenager discovered the precious metal at a depth of about 2m (6.5ft) near the shore of Bavaria’s Koenigssee lake on Friday.
She handed it into police who are now investigating where it came from and who owned it. MORE (BBC)
June 6, 2013: After a one-day plunge in gold prices in April, demand for American Eagle gold coins soared, and the government ran out. Now, the coins are being minted again. Sharon Epperson reports for NBR on what goes into minting those investments.
Lee Rossiter is a members of the Yorkshire Searchers and only been metal detecting for 18 months said he was amazed to find find such a lovely ring but almost threw it away because he thought it was costume jewelery.
Before discarding the object he decided to show it to some other members of the metal detecting group and the organiser Stuart Littlewood who gasped for breath and informed him he had probably found Tudor Gold.
After checking with the local ‘Finds Liason Officer’ from the Portable Antiquities Scheme based in Wakefield – it was indeed confirmed as a Tudor gold ring from approx 1440 – 1600 AD. The gold ring is now property of the Crown, but Lee gets to keep it for a short time whilst the ‘Treasure trove’ process is initiated.
It is thought the ring will eventually be acquired by a museum local to the find spot – which is being kept secret for the time being. Yorkshire Searchers
More than five years ago, art collector and author Forrest Fenn decided to hide a treasure chest in the Rocky Mountains. Since then, he says tens of thousands of people have tried to find it.
The 84-year old millionaire, who lives in Santa Fe, New Mexico, left clues in his book, “The Thrill of the Chase” — but so far, no one has been successful.
“I think it’s out of control,” Fenn told ABC Albuquerque affiliate KOAT, estimating that 30,000 people looked for the treasure last summer and that 50,000 may look for the treasure this summer.
Fenn has never revealed the value of the treasure chest — which measures 10 inches by 10 inches — but the New Mexico Tourism Department estimates the value to be as much as $2 million…Read More (AbcNews.go.com)
An old Montana gold mining outpost has gone from ghost town to boomtown.
The U.S. Bureau of Land Management is giving four history buffs the chance to live in Garnet, a preserved mining town on public land in Montana. But they’ll have to help maintain it and they won’t have the creature comforts of the current century.
“It’s primitive, to say the least,” U.S. Bureau of Land Management Ranger Nacoma Gainan told the the Missoulian. “It’s for people who love the outdoors and want to give back. There’s no electricity, no Wi-Fi and no running water. But there are trails to explore, artifacts to inspect. Volunteers are really left to their own devices after the visitors are gone.”…Read More (FoxNews.com)