Analytics
The best Experts' Views, Marks and Forecasts on Economics >>
-
1 September 2011
Gold surge boosts bullion business
Euronews.net - Around the world the hunt is on for forgotten bullion. The recent surge in the price of gold – up nearly a third this year – together with the slide back towards recession, has treasure hunters scouring their homes for hidden riches.
The precious metal can be found in the most unexpected places. In Japan one woman took the gold teeth from her deceased mother’s dentures to a Tokyo shop which buys gold.
The shop owners said business is booming and they are seeing up to 100 customers a day. One of those recently was a former Buddhist monk, Taiko Ninomiya, who wanted to know the worth of a Bhudda statue he inherited.
He said: “The rising price of gold made me think twice about its cash value and the spiritual value it has to me. Whichever way, I’ll be happy because either I’ll get four times more money than it was previously worth or I’ll bring it back to the altar in my house.”
The rising price of gold is also catching the eye of the bad guys. There has been a surge in crime linked to gold reported from around the world in recent weeks. There have been major robberies in Japan, Dubai, Casablanca and Pathanamthitta in southern India.
