Analysis of the global market, liquidity, supply and demand, gold as a monetary asset. Market news and reports

www.marketintelligence.gold.org

Hello, you either have JavaScript turned off or an old version of Adobe's Flash Player. Get the latest Flash player.

Gold

Police investigate pot of gold > Gold News > World Gold Council, gold market information and intelligence

 

Police investigate pot of gold

The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Monday, 7th July 2008 (1945 views)

In Russia, a group of people who made a gold discovery while working on building a new metro line are being investigated by the police, Russia Today has announced.

The workers were building the metro in the city of Nizhny Novgorod apparently came across a pot of gold which dates back to the reign of the last Russian Tsar, Nicholas the Second.

A local newspaper at the time said the gold was estimated to weigh 8.5 kilos and the pot contained one thousand coins.

The police have now found out about the gold through local media, Russia Today reports.

Under Russian law people who make such a discovery can only claim 25 per cent of the total value, while the state receives half and the owner of the land where the treasure was found is entitled to the remaining quarter.

Russia Today said local historians believe the claim as the area where the metro is being built is near where a lot of merchant shops is used to be situated.

Tsar Nicholas the Second ruled from 1894 until his forced abdication in 1917 following the first Russian Revolution.

 

« Back to Gold News stories

 

Gold News Archive:

 
 

Search

Search our gold investment information.

  • Gold Spot Price
  • Bid: $1150.80
  • Ask: $1151.60
  • Last Update: 22:16 GMT
© 2009 World Gold Council - all rights reserved. Produced and managed by CFP Group.