World's Largest Gold Ring Costs $3 Million
Image courtesy: Reuters
Here's one wise investment that's paid off. Thanks to the meteoric rise in gold in the recent past, the value of the Najmat Taiba, the world's biggest ring, has gone up by five and a half times.
The ring is the property of Saudi Arabian jewellery maker Taiba and was made from 58.7kg of 21k gold in 2000, when the precious metal cost $250 an ounce. Now as gold prices stand at an eye-watering $1,500 per ounce, the giant ring is valued at $3 million.
The Najmat Taiba, which weighs in at 63.856kg and has a perimeter of 2.2m, currently sits in the display window of the Dubai's Kanz Jewellery, twinkling at tourists and shopper in the city's famed gold souk. According to Anil Dhanak, MD of Kanz Jewellery, the ring cost $547,000 to make 11 years ago.
The world's largest ring - it comes with its own Guinnes Book of World Records Certificate - is studded with 5.1kg worth of precious stones from Signity Middle East, including 615 pieces of Swarovski stones, and took 55 workers 45 ten-hour days to make the ring.
Via Emirates 24|7
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