The fragments were found while clearing the area near the Vittala Bazaar adjacent to the ticket counter in front of the Vijaya Vittala temple complex to install a water cooler. After noticing a piece of gold, the area was dug for about one foot where the remaining fragments were found. Official sources in the Archaeological Survey of India (ASI) told The Hindu that all the fragments had been collected and kept safely and the higher-ups informed. Similar gold foil had been found near the Varaha temple in 2006, the sources said.
My opinion at this stage is that the Gold from the deity may have been the ‘kavacha’ or the armour/dress that Hindu deities are generally adorned with. It was probably stripped off the deity during the sack of Hampi and cut up and distributed among several individuals. One of these individuals for some reason, may have buried his share and for some reason again, never reclaimed it.