Dubai: Price of world’s biggest 21-carat gold ring in Dubai has escalated due to spiralling value of the yellow metal.

The 63.856 kg ring, which has a Guinness Book of World Records certificate for being the world's biggest gold ring, is on display at the Deira Gold Souq (market) in Dubai.

"While it cost USD 547,000 to make the ring in the year 2000, the current value is worth over USD 3 million. This is the world's biggest gold ring and we have displayed it on behalf of Taiba, the Saudi Arabian jewellery maker who made this unique piece in 2000 when the gold price was only USD 250 per ounce," Kanz Jewellers Managing Director Anil Dhanak said.

According to its owners, its value has multiplied several times over the years, due to the record gold price now.

It is studded with 5.1 kg worth of precious stones from Signity Middle East and its creation was supported by the World Gold Council.
"Now the value of gold has gone up to USD 1,500 per ounce, so you can imagine how much fortune the idle gold ring has brought to its owner," Dhanak told a news channel.

"The ring is currently owned by Taiba, but we have displayed it to promote much smaller wearable rings. This ring has inspired many gold enthusiasts to buy replicas," he said.

The Najmat Taiba ring has a 2,200-mm perimeter, a 700-mm outer perimeter, a 490-mm inside diameter, 500-mm width on its back and 250-mm width on the ring bottom. It has 615 Swarovski stones embedded in it. Fifty-five workers worked 45 days continuously for 10 hours a day to make this piece.

(Agencies)