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Multiple arrests made over 100kg gold coin stolen from museum

Germany has made arrests over the theft of a 100kg gold coin, which was stolen last March from the Bode museum. The “Big Maple Leaf” had a diameter of 53cm and a thickness of 3cm, one of the only five pure gold commemorative pieces issued by the Royal Canadian Mint in 2007. It is made of 24-carat gold and valued at £1m, despite it being valued closer to £3.3m when broken down into separate parts.

A spokesperson confirmed newspaper reports that the suspects arrested were members of an “Arabic-Kurdish clan” known to investigators in connection with drug smuggling, arms trading and racketeering, according to The Guardian.

The coin itself has not been found, and authorities fear it has been melted down and sold off.

The gold price has unexpectedly risen to $1,221.60, coinciding with the end of Janet Yellen’s testimony to congress. Yellen is likely to elaborate on when the next rate hike by the Federal Reserve is coming, which has a short-term depressive effect on gold.

According to proactiveinvestor.com, gold-focused exploration company Lionsgold Limited have increased their stake in gold-based fintech company TRAC technology.

The London based firm previously had a 37% interest in TRAC, which provides a services for physical gold holding and trading, but the stake will increase to 55%, with CEO Cameron Parry having a 5% separate holding.

Photo: The Bode museum, where the gold coin was stolen from Credit: Kamillo Kluth. Licensed under CC BY 2.0.

 

Link to this article: : http://www.goldmadesimplenews.com/gold/multiple-arrests-made-over-100kg-gold-coin-stolen-from-museum-13274/

Posted by on Jul 13 2017. Filed under Gold News, Mining. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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