Thursday, Oct 15, 2009
Jumping on the bandwagon
Telegraph: Harrods to sell gold bullion for first time
It is renowned for its glitzy clientele and upmarket Knightsbridge location, but shoppers at department store Harrods will from today be able to buy the ultimate luxury accessory – gold bars. From this morning, Harrods will start selling gold bullion and coins over the counter. Aimed at private investors, the gold will be sold at the Harrods Bank branch on the lower ground floor of the West London store. Poor interest rates and falling property prices have left wealthy investors looking for alternative asset classes to put their money into. A weak dollar yesterday pushed the gold price to a record high of $1,072 an ounce. "Harrods are the only location in London where investors can purchase a 12.5kg gold bar 'off the shelf'." [Worth over £250,000! Note use of word 'investors'.]
12 Comments
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3. jack c said...
Interesting to see if they havea Money Laundering Procedure for this operation?
4. bystander said...
Isn't it a bubble when everyone is talking it up? There is a correction coming, but it won't appear until the governments around the globe stop feeding the fat bloated financial industry. I have never before felt so totally disgusted by the machinations of the world,naive I know, but what a shitty world we live in where those driven by greed and sit in front of banks of screens, pushing numbers around, keep their jobs, ore are rehired at vastly inflated incomes, are set to receive record bonuses, again, while real people, delivering a real service are either losing their jobs and/or are taking pay cuts. Much of what the city does is 'socially useless' and this bloated beast, around the globe should be cut down to size. I know that there will be many, especially in the financial services, who firmly believe that they are the only reason the UK makes any money at all, and they may be right, but this has to change. Will it??
To quote a 'citytrader' from another blog site -
"Unleash Bitish bankers!
They want to take on the chineese and the world!
Let 'em FLY, I say.
We have the skill and the bottle.
Banking bonuses wiull be BIGGER this year than last....and let's not pretend the city doesn't run the country.
The UK is the biggest foreign owener of USA assets and has the skill to DOMINATE THE WORLD in banking.. "
.......(spelling goes to pot when euphoric greed takes hold, obviously)
5. Notmyhouse said...
They will do if a single purchase is more than £5,000 or more than £10,000 in a year.
6. Notmyhouse said...
They will do if a single purchase is more than £5,000 or more than £10,000 in a year.
7. Robo1968 said...
Isn't there a phrase, 'when Main Street meets Wall Street it's time to get out'?
8. rumble said...
Is anyone seriously going to go to Harrods to buy gold? PR.
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