World’s biggest gold ring worth $3 million displayed during DSF

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Established in 1958 Kanz Jewels, one of UAE’s leading and oldest Jewellery brands is currently displaying  in Dubai the world’s largest gold ring weighing approximately 64 kg’s. The ring is displayed with a ‘Guinness Book of World Records’ certificate.

This is one of the major attractions for tourists in Dubai’s Gold Souk in Deira including Bollywood actor Sunil Shetty who visited the largest Kanz Jewels’ largest showroom yesterday. In the recent past several celebrities including Hollywood actors Nicholas Cage, Steven Siegal, cricketer Brian Lara and several other Bollywood artists like Jackie Shroff, Gulshan Grover have visited the Kanz showroom in Deira Gold Souk.

According to the Guinness Book of World Records, the world’s largest gold ring is ‘Najmat Taiba’ manufactured by Taiba, Saudi Arabia. This ring is studded with 5.1kg of Swarovski stones from Signity Middle East and was supported by the World Gold Council. Najmat Taiba has 2,200mm perimeter, 700mm outer perimeter, 490mm inside diameter, 500mm width of the back of the ring, 250mm width of the ring bottom. Fifty-five workers worked 45 days continuously for 10 hours a day to make this piece.

“We have displayed the world’s biggest gold ring and I can say that it is also one of the most photographed gold ring in the world. When crafted this unique piece in the year 2000, the gold price was only $250 per ounce. Now gold price has gone high as to over $1,600 per ounce and the value of the ring has multiplied and is now worth Dhs11m. This ring has inspired many gold enthusiasts to buy replicas of the ring from our stores,” said Mr. Anil Dhanak, Managing Director, Kanz Jewels.

Mr. Anil’s father came to Dubai as a goldsmith in 1958 and opened his first manufacturing unit in Bur Dubai in 1964. Today, in addition to regular jewellery Kanz Jewels also sells skirts, jackets and other heavy items made of 18k gold.

On gold’s safe haven status in 2012, Mr. Anil stated that, “Gold will continue to enjoy the safe haven status in 2012 and beyond. When we currently scan the globe with regard to investments people are still investing in Gold and we see this trend to continue here in the UAE as well. Gold is for the long term. Recent research from Bloomberg stating that gold and other precious metals could well see a strong recovery is also providing support to the industry. According to Bloomberg’s research Gold is tipped to reach a new peak of $2,140. We have seen good sales with the beginning of 2012 and have seen a lot of interest from the yellow metal enthusiasts from across the globe with the commencement of Dubai Shopping Festival”.

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