The world’s largest gold coin sold for $4.02 mn in Vienna at the venerable Dorotheum auction house. This was significantly below the pre-sale estimate of $4.90 mn for the auto-wheel-sized Maple Leaf monster coin showing Queen Elizabeth II, worth C$1 mn (face value) minted in 2007 before the gold price rose, and bought by an Austrian financier who was jailed for fraud and embezzlement. It also sold for less than the current price of the gold in it.
Chartist Richard Suttmeier writes in Valuengine on gold:
“The daily chart shows declining MOJO and Monday’s all time high of $1266.5 was a failed test of my monthly resistance at $1265.9. The 21-day and 50-day simple moving averages provide key supports at $1230.4 and $1202.9.”
Amidst all the news about the Supremes overruling the law which makes it a crime to fail to provide “honest services” in managing a company, another bit of jurisprudence may not be noticed.
