Teen Gets to Keep $20,000 Gold Bar Found in Lake

 

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Swimming in an Alpine lake on a warm August day has many allures, but for a German teenager it fortuitously became the best investment decision in her young life.

The teenage girl from Germany, who remains anonymous, last summer found a gold bar at the bottom of the lake and quickly surrendered the treasure to the police in Berchtesgaden, Germany.

The authorities began a monthslong search for a rightful owner, but after six months could not find anybody, according to news reports. On Thursday, they announced that the girl and her family can keep the bar, which at 17.6 ounces is worth about $20,000.

The last time gold bars made news was in early 2015, when two amateur treasure hunters Piotr Koper, from Poland, and Andreas Richter, from Germany, through their attorneys claimed they found the location of a Nazi train full of gold and gems in Poland.

In December, Polish scientists, who were charged with investigating the site, announced that they could find no evidence of the train’s existence.

Finding a half-kilo gold bar is a great investment, but investing in gold has been a losing proposition for nearly five years so far.

Gold futures  on Friday were down 0.7% at $1,150 an ounce.

Gold prices peaked at about $1,900 an ounce in 2011 and steadily declined ever since. Though lately, the shiny metal has found some of its luster.

Prices gained more than 5% since the start of the year with analysts saying the momentum is likely due to a fall in the dollar and fears of a recession.

Written by Anora Mahmudova of MarketWatch

(Source: MarketWatch)

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