Business | Feb 28

World's Largest Gold Nugget Now Worth Billions

SHIZOUKA, Feb 28 (News On Japan) - The world's largest gold nugget, certified by Guinness World Records, is currently on display in Izu, weighing in at 250 kilograms.

The giant nugget was successfully cast by Mitsubishi Materials in June 2005, when the gold market price was 1,600 yen per gram, giving it an approximately value of 400 million yen at the time.

The gold market price has since exceeded 10,000 yen per gram, bringing the market value of the nugget to 2,715,250,000 yen as of February 26.

The nugget is currently on display at the Toi Gold Mine tourist facility in Izu City, Shizuoka Prefecture, where visitors can actually touch the precious metal.

Kokubun Ayumu, Section Chief at Toi Gold Mine, expressed his astonishment, "I am simply amazed at the 2.7 billion yen value. If this trend continues, it might reach 3 billion yen by summer. However, the rise in gold prices is partly due to global uncertainties, so it's a mixed feeling of joy."

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