(Kitco News) - Gold’s unprecedented rally through late last year and early 2026 has attracted a lot of attention, and physical bullion is now literally coming out of the woodwork.
The Grand Emperor Hotel in Macau announced earlier this week that it will rip up its floor to sell its inlaid gold bars for a significant profit. The hotel, which opened in 2006, is known for its opulent decor, including flooring in the lobby that features dozens of gold bars.
“In light of the prevailing market conditions and the market price of the Precious Metal currently at a high level, the Directors are of the view that the Disposal represents a good opportunity for the Group to realise and unlock the value of the Precious Metal whilst enabling the Group to save security and insurance expenses associated with the Precious Metal in the future,” the company said in its filing with the Hong Kong Stock Exchange.
The company said it will raise HK$99.7 million ($12.76 million) as it sells 2,539.91 ounces of gold.
According to reports, the company is raising capital as it closes its casino business and looks to develop entertainment and amusement facilities.
“Given that the relevant area is planned to undergo renovation and redevelopment, the Precious Metal that were originally part of the hotel’s interior design and outfits are no longer relevant to the theme of the hotel in the future,” the company said.
While gold has seen some significant volatility in recent days, prices continue to consolidate at elevated levels just below $5,000 an ounce. Over the past 20 years, the value of the gold in the hotel’s floor has risen by more than 850%.
