Wednesday, 18 May 2011

World's biggest gold ring present worth $3 million

DUBAI: The value of a 63.856 kg, 21-carat gold ring on display in Dubai has explosion up due to the spiraling price of the yellow metal.

The ring, which has a Guinness Book of World Records for being the world's biggest gold ring, is on display at the Deira Gold Souq (market) in Dubai.

According to its owners, its value has multiplied more than a few times over the years, due to the record gold price now.

It is studded with 5.1 kg worth of precious stones from Signity Middle East and its formation was supported by the World Gold Council.

Kanz Jewellers Managing Director Anil Dhanak said,"While it cost $547,000 to make the ring in the year 2000, the present value is worth over USD 3 million.

This is the world's biggest gold ring and we have displayed it on behalf of Taiba, the Saudi Arabian jewellery maker who made this unique piece in 2000 when the gold price was only USD 250 per bit".

"Now the price of gold has gone up to USD 1,500 per ounce, so you can imagine how much chance the idle gold ring has brought to its owner," Dhanak told Emirates 24/7.

"The ring is currently owned by Taiba, but we have displayed it to support much smaller wearable rings.

In this Najmat Taiba ring has a 2,200-mm perimeter, a 700-mm outer perimeter, a 490-mm inside diameter, 500-mm width on its back and 250-mm width on the ring bottom.

It has 615 Swarovski stones rooted in it. Totally Fifty five workers worked 45 days continuously for 10 hours a day to make this piece.

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