Much has been said about Barack Obama creating history by being elected as America’s very first black president. Perhaps the only thing that made more news than Obama during the elections period was wife Michelle Obama’s fashion sense.

The Obama’s are back in the news for something that has nothing to do with America’s views on the war in Iraq but perhaps has a lot do with the recession. Barrack Obama has set his heart upon a £20,000 ring, not for himself but as a gift for his wife to show his gratefulness for her support during the election. The Harmony ring is being specially created by Italian designer Giovanni Bosco and will have splattering of diamonds on a body of rhodium. As one of the world’s rarest precious metals to be mined, an ounce of rhodium costs a staggering £5,000. Interestingly, Obama’s team has denied all rumours about this decadently expensive ring that is supposedly being made in time for the big day in January.

The denial has left Bosco in a tight spot, unable to make any comments at all. Perhaps the First Lady is still shy of dropping her image of the girl-next-door and doesn’t wish the public to know she owns such ostentatious jewellery.

Via: DailyMail/Luxist