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Rothschild Bullion Collection Aquired By Degussa
Posted May 20th, 2014
TANGIBLE INVESTMENTS - Los Angeles - by James O'Dell - Gold and silver prices turned higher on Tuesday, with gold rising to $1,294.70 an ounce and silver edging up to $19.39 an ounce even after an industry report that the world's top two gold consumers in the world, China and India in that order, saw demand dip in the first quarter.
Gold prices seem “happy ranging between $1,290-$1,305 for the time being. The 100-day moving average currently sits at $1,294.08 and the 200-day moving average at $1,298.48 which appear to be acting like magnets the spot market,” said MKS (Switzerland) on Tuesday.
Meanwhile, Frankfurt based Degussa Gold Trading, announced on Monday that it had acquired the “Rothschild Collection,” a prized collection of more than 1,000 artistic and historic examples of gold bullion representing 145 manufacturers from 35 nations.
Manufacturers from around the world have made their gold bars available to the collection, which was founded by NM Rothschild & Sons (Australia) in 1993, and has grown to a total weight of more than 7,394 troy ounces (230 kilograms) of fine gold with a value of $10 million (seven million euros).
The Perth Mint took over the safekeeping duties for the collection in 2005. “By acquiring this extraordinary collection, Degussa has made a significant step in expanding the already existing ‘Degussa Collection’”, said Wolfgang Wrzesniok-Rossbach, CEO of Degussa.
“We already have accumulated a wide variety of historical bars in the last three years, ranging from artifacts that originate in the Bronze Age, the Roman Empire, the Dark Age and—as one of the highlights—from a number of treasures recovered from sunken ships such as the Atocha, a Spanish Galleon that sank in a hurricane off the coast of Florida in 1622.”
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