Collections, Investment

China’s Last Emperor’s wristwatch sold for US 5 Million

A Patek Philippe wristwatch once owned by the Chinese last emperor of Qing dynasty, Aisin-Groro Puyi – sold for USD 5.1 million hammer at an auction in Hong Kong Tuesday.

The Patek Philippe Reference 96 Quantieme Lune, which is one of just eight known to exist according to Philipps acution house which handled the sale.

The 1.2-inch-diameter platinum timepiece features an Arabic numeral dial, pink gold hands and a “moon phase” function that shows hoe visible the moon is from Earth at any given time. It is not known how Puyi actuired the timepiece, though records show it was initially sold via a luxury store in Paris. It is because some of its internal mechanisms date to 1929, though the model was not sold by Patek Philippe – a Swiss watchmaker known for fitting complicated movements into slim cases – until 1937. Phillips added that historical documents prove the former emperor took it with him to a Soviet prison camp in Khabarovsk. Puyi later gifted it to Georgy Permyakov, a fluent Mandarin speaker who served as his tutor and Russian translator during his time in detention.

The auction house – Phillips spent 3 years on reserching the object’s history and confirming its provenance. It is an unprecedented reserch project with a worldwide team of watch specialists, historians, journalists and scientists according to a press release of the auction house.

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Investment, News around the World





Investment, News around the World

Gold nearly reached USD 2,050 per oz

Gold spiked to nearly USD 2,050 per troy ounce this morning amid the US inflation report, then dropped nearly USD 20 per oz on profit taking.

Lask week, US Federal Reserve announed a rate hike of 0.25 percenrage point. In general, higher interest rates are typically bearish for yellow metals – Gold and make precious metals less attractive as an alternate investment. However, a pause or an end to the rate hikes may send the bullion markets bullish again.

Global investers currently are watching closely in the standoff in Biden and congressional leaders over the US debt ceiling and also a potential banking crisis. Both factors will weight heavily with the US and global econimic growth. And the uncertainty in the US markets will push investors turn to the haven asset – gold market.

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News around the World








News around the World

A major leak of classified Pentagon documents

The Biden adminstration is scrambling to assess and dealing with the fallout from a major leak of classified Pentagon douments. It is not the first to hear that there is classified information leak in the Biden adminstration. However, this time will be much more serious.

The highly sensitive documents which include details about how the US spies on allies and adversaries appeared online last month on the social media platform Discord. The posts are photos of sensitive documentns laid on top of magazines and surrounded by other random objects. Those document all bore classified markings, some top secret – the highest level of classification. Those 53 leaked documents seem to be produced between mid-February and early March. A representative from the social media Discord confirmed that their team is cooperating with law enforcement on the investigation.

One document reveals that the US intelligence has been spying on Ukrainian Presisdent Volodymyr Zelensky. Ukrainian officials are deeply frustrated about the leak even Zelensky adminstration is not surprised about it.

Another remarkable reveal will be the conversation between two senior South Korean national security officials over a US request for ammunition. The details of the communication was about Korean officials worried that supplying the ammunition, which the US would then send to Ukraine, would violate South Korea’s policy of not supplying lethal aid to countries at war. The documents also show the one of the officals suggested a way of getting around the policy without actually changing it – by selling the ammunition to Poland. The details of the document has sparked controversy in Seoul.

Another controversial intelligence reoprt is related to Isreal. The report which produced by the CIA said that Isreal’s main intelligence agency has been encouraging protests agains the country’s new government.

US allies are doing damage assessments to determine whether any of their own sources and methods have been compromised by the leak. The leak was frustrating and harmful to the US reputation. To date, key allies have not yet been given a briefing by the US on where they are on the damage assessment or efforts to identify the leakers.

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