thecrashingisles Posted July 5, 2011 Share Posted July 5, 2011 http://news.sky.com/skynews/Home/World-News/Indian-Temple-Treasure-Trove-Sree-Padmanabhaswamy-Protected-By-Armed-Guards-After-Precious-Find/Article/201107116023957?lpos=World_News_Third_Home_Page_Article_Teaser_Region__1&;lid=ARTICLE_16023957_Indian_Temp A huge treasure trove of gold coins, jewels and precious stones valued at £13.7bn has been discovered at a Hindu temple in India.Guards have been sent to surround the 16th-century Sree Padmanabhaswamy Temple in Trivandum, the capital of Kerala, before the last two secret vaults - sealed for 150 years - are opened. Kerala's police chief, Jacob Punnoose, said: "We plan to enhance security in a manner which will not interfere with the activities of the temple or devotees." The discovery has turned the temple into one of the wealthiest religious institutions in India - with the treasure found in the first four vaults valued at around $22bn (£13.7bn). Found so far are statues of gods and goddesses made of solid gold and studded with diamonds, rubies, emeralds and other precious stones, crowns and necklaces. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted July 5, 2011 Share Posted July 5, 2011 So what does that do to the price of gold? (How many pretty things have been melted down over the last few years?) Quote Link to comment Share on other sites More sharing options...
leicestersq Posted July 5, 2011 Share Posted July 5, 2011 So what does that do to the price of gold? (How many pretty things have been melted down over the last few years?) Where is the General? He would have a view on this. Quote Link to comment Share on other sites More sharing options...
Lepista Posted July 5, 2011 Share Posted July 5, 2011 If all the (known) gold in all the world was melted down and made into a cube, it would measure (If I remember correctly) 25m on each side. Quote Link to comment Share on other sites More sharing options...
Lepista Posted July 5, 2011 Share Posted July 5, 2011 Assuming, say 25% of the £13bn is the weight of gold price, that would be about 100 tonnes of gold that's been found. On the 25x25x25 cube, that would equate to an extra thickness of around 1.4mm all over. So this find has increased the cube from 25,000 x 25,000 x 25,000 up to 25,002.8 x 25,002.8 x 25,002.8. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 5, 2011 Share Posted July 5, 2011 Fascinating, from an historical point of view truly fascinating. They must be gorgeous to look at also... like something from an Indiana Jones movie... Quote Link to comment Share on other sites More sharing options...
Take Me Back To London! Posted July 5, 2011 Share Posted July 5, 2011 So what does that do to the price of gold? (How many pretty things have been melted down over the last few years?) Yeah, I can see that 3 foot 6 inch idol of a Hindu god will be the first thing to get smelted down. Quote Link to comment Share on other sites More sharing options...
Take Me Back To London! Posted July 5, 2011 Share Posted July 5, 2011 Where is the General? He would have a view on this. On his way to the airport for a flight bound for India. Quote Link to comment Share on other sites More sharing options...
GeordieAndy Posted July 5, 2011 Share Posted July 5, 2011 On his way to the airport for a flight bound for India. Quote Link to comment Share on other sites More sharing options...
Take Me Back To London! Posted July 6, 2011 Share Posted July 6, 2011 why has this thread not been shunted into the golden sidings by the mod controller? Quote Link to comment Share on other sites More sharing options...
kenzdawg Posted July 6, 2011 Share Posted July 6, 2011 So what does that do to the price of gold? (How many pretty things have been melted down over the last few years?) As an asset class with no fundamentals gold is immune from boring old supply driven demand curve shifts. As last sunday's Lex column in the FT pointed out gold AND riskier asset classes have both performed the same in recent years. We seem to be at an inflection point in the world economy which could go either way and gold is part of a massive hedge bet taking place. Of course, unlike commodities that actually service a need it's faith that's holding up the price of the yellow stuff. If there's inflation in the system what is happening with basic foodstuff futures prices? Quote Link to comment Share on other sites More sharing options...
phead Posted July 6, 2011 Share Posted July 6, 2011 The curious lack of photos seems to indicate there is more to this story. Quote Link to comment Share on other sites More sharing options...
Monkey Posted July 6, 2011 Share Posted July 6, 2011 The curious lack of photos seems to indicate there is more to this story. my thoughts exactly Quote Link to comment Share on other sites More sharing options...
VeryMeanReversion Posted July 6, 2011 Share Posted July 6, 2011 Where is the General? He would have a view on this. He's gone to India to get his stash back. Quote Link to comment Share on other sites More sharing options...
juvenal Posted July 6, 2011 Share Posted July 6, 2011 http://www.building.co.uk/news/wrekins-ruby-sold-at-knock-down-price/3158263.article I just hope this doesn't turn out to be another Gem of Tanzania aka The Wrekin Ruby... Quote Link to comment Share on other sites More sharing options...
DannyT Posted July 6, 2011 Share Posted July 6, 2011 why has this thread not been shunted into the golden sidings by the mod controller? I posted this story yesterday on the gold thread - I don't think the General was too tickled and wanted to talk about house prices instead Quote Link to comment Share on other sites More sharing options...
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