Det Sgt Valentine said: "I am not aware of the circumstances of the case. I am just aware of the outcome."
So what is the risk this could happen again, leaving many of today's eager investors nursing big losses?Helped by its relative rarity, gold has been seen as an intrinsic store of value for centuries. The global supply is limited. Only around 216,265 tonnes have ever been mined, according to the World Gold Council, (the total is currently increasing by about 3,500 tonnes per year). This means that it is widely perceived as a "safe haven" asset that will retain its value.
As an investment, however, it has both advantages and disadvantages.Unlike shares, it will never pay a dividend. Unlike bonds, it will not provide a steady, predictable income, and its industrial applications are relatively limited.The draw, however, is that it is a physical product that exists outside of the banking system. It is also used as an insurance policy against inflation: while currencies tend to lose value over time, gold does not.
"Gold can't be printed by central banks, and it can't be conjured out of thin air," says Russ Mould, investment director at stockbroker AJ Bell. "In recent times, a big policy response from authorities when there's been a crisis has been: slash interest rates, boost money supply, quantitative easing, print money. Gold is seen as a haven from that, and therefore a store of value."There has recently been a significant rise in demand for gold from so-called Exchange Traded Funds, investment vehicles that hold an asset such as gold themselves, while investors can buy and sell shares in the fund.
They are popular with large institutional investors – and their actions have helped to push up the price.
When gold hit its previous record in January 1980, the Soviet Union had just invaded Afghanistan. Oil prices were surging, driving up inflation in developed economies, and investors were looking to protect their wealth. The price also rose sharply in the aftermath of the global financial crisis, leading to another peak in 2011.That doesn't mean the Kremlin has headed off the danger of additional restrictions completely. The US Senate has threatened tough new sanctions against Russia if Moscow doesn't get serious about diplomacy.
Up to this point the Kremlin has been able to deflect or to sidestep whatever pressure it's come under to make compromises and concessions regarding its war on Ukraine.It seems confident it will continue to do so.
Russian forces are making gains in the Ukrainian north-eastern region of Sumy - a development that may be linked to Moscow's attempts to create "buffer zones" along the border, Ukrainian regional authorities have said.The head of the Sumy region Oleh Hryhorov said Russian forces have seized four villages and that fighting is continuing near other settlements in the area "with the aim of setting up a so-called 'buffer zone'".