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Friday, 22nd February 2008 (1761 views)

Next week is to see the commencement of drilling to determine whether an underground cavern in Germany contains gold treasure looted by the Nazis from a Russian palace.

The Associated Press reports that a camera is to be inserted underground next week by German treasure hunters keen to establish whether the gold is that from the Amber Room, a chamber in the Catherine Palace, located in what was formerly Leningrad.

The Bergier commission's 1998 report, Switzerland and Gold Transactions in the Second World War, estimated that the Swiss National Bank received $440 million (£226.2 million) of gold during the conflict, $316 million of which may have been looted.

A scan of the cavern recently revealed a red triangle suggesting metal that is likely to be gold or silver, according to mayor of the town in which the cavern is situated, Hans-Peter Haustein, who is also an amateur treasure hunter.

However, Mikhail Shvydkoi, head of the Russian state agency for culture, told Russian media he is doubtful as to whether the treasure will be found.

"I don't think it exists," he said.

 

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