Here’s a look at the latest developments in the precious metals market for the week beginning 6/24/21.
- The third-largest diamond was discovered in Botswana this Month
- Giant Gold Coin Weighs 200 Pounds and Took 40 Hours to Create
- Gold Going Sideways
The third-largest diamond was discovered in Botswana this Month
A 1,098-carat stone was discovered earlier this month at the Jwaneng mine in Gaborone, Botswana. It’s believed to be the third-largest “gem-quality” diamond ever found.
An official government Twitter account wrote that “proceeds from the diamond will be used to advance national development in the country.” They also added that Debswana should use the latest discovery an inflection point, for the mine to use its technology to realize more of these large discoveries.
The Jwaneng mine usually yields between 12.5 million and 15 million carats of diamonds per year.
At present, the largest diamond ever recorded is the 3,106-carat Cullinan Diamond, which was found in South Africa in 1905.
The second-largest diamond is believed to be the Lesedi La Rona, a 1,109-carat stone found by Canadian firm Lucara Diamond at the Karowe mine, also in Botswana, in 2015.
To learn more about this incredible discovery: One of the World’s Largest Diamonds Has Been Unearthed in Botswana
Giant gold coin weighs 200 pounds and took 40 hours to create
A huge $13,950 commemorative gold coin has been created in Britain to pay tribute to the “Queen’s Beasts” – the 10 mythical creatures that represent her royal ancestry.
The coin weighs 22 pounds and was made by the Royal Mint. It’s the largest ever created in its 1,100-year history.
It took four days to polish before it was cut, laser frosted, and completed with a matte finish. The whole design took 400 hours in total.
The mythical beasts include a white lion, bull, falcon, unicorn, dragon, griffin, and others. They symbolize her ancestry and together form a “formidable phalanx of ancestral creatures drawn from centuries of royal history”.
The coin illustrates all 10 beasts side-by-side in one single design with an effigy of the Queen in the center.
To learn more about the commemorative coin and how much it was sold for: Giant Gold Coin Weighs 200 Pounds and Took 40 Hours to Create
U.S. investors prefer gold over bitcoin for the next decade
According to a new Bankrate survey, 13% of American investors say they prefer gold over bitcoin for the next ten years or more.
On the other hand, only 9% said they prefer to buy bitcoin and other cryptocurrencies, up from 4% reported in 2019 and 2% in 2018.
Despite the increase over the last three years, most Americans said they were still uncomfortable investing in cryptocurrencies. Out of those surveyed, 28% said they were “not too comfortable,” and another 33% said they were “not at all comfortable” investing in crypto.
The top investment choice this year was real estate, with 27% choosing this option. Coming in second was the cash, savings, or CDs option. In third place were stocks, with only 16% of American investors choosing them this versus 28% last year. In fourth place was gold, followed by bitcoin and bonds.
To learn more: U.S. Investors Prefer Gold Over Bitcoin for the Next 10 Years