You Know Gold Is in Fashion When the Fanciest London Department Store Starts Selling Bullion

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From this morning,
Harrods will start selling gold bullion and coins over the counter.

In a sign that
the credit crisis has left his gilded customer base largely untouched,
Harrods owner Mohamed Fayed has teamed up with Produits Artistiques
Métaux Précieux (PAMP), the Swiss refiner, to sell
gold in the store.

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.

Read
the rest of the article

October
16, 2009

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