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-- Posted Thursday, 15 October 2009 | Digg This Article | | Source: GoldSeek.com
If you wanted a more potent symbol of the rise of gold among retail investors then the news that London department store Harrods is to sell gold coins and bullion over the counter from today is surely just that. Apparently Harrods is the only place in London where you can pick up a 12.5kg bullion bar off the shelf. One could imagine bumping into Jim Sinclair with his trolley loaded or some of the guys from The Daily Reckoning popping in for a bullion bar after lunch. Retail gold Harrods is better known for its smoked salmon and food hall and has never sold gold bullion in its entire history. But in retailing you always need to spot a trend. Chris Hall, head of Harrods Gold Bullion, told The Daily Telegraph today: ‘The financial environment has kindled a new demand for physical gold among private investors in Britain. For many people this is a new and unfamiliar asset class that demands absolute trust. Until now London has had no well-recognised name serving this market.’ Harrods owner Mohamed Fayed, who made his first $50 million in Dubai as a controversial middle-man, has teamed up with Produits Artistiques Métaux Précieux, the Swiss refiner, to sell gold from the store. Golden bubble? Does this mark a market top for the yellow metal? Well they are not exactly queuing down the streets to buy the stuff yet. Perhaps we will need to wait for the Harrods sale. Indeed, the price graph for gold is an upward slope and shows no sign of a blow-off just yet. There is nothing like the tell-tale price spike seen in oil in the summer of 2009. So buying gold in Harrods might yet prove a good buy, although caveat emptor mark ups have always been on the high side at Harrods. You can buy gold far more economically elsewhere.
-- Posted Thursday, 15 October 2009 | Digg This Article | Source: GoldSeek.com
Previous Articles by Peter Cooper
About Peter Cooper:
Oxford University educated financial journalist Peter Cooper found himself made redundant by Emap plc in London in the mid-1990s and decided to rebuild his career in Dubai as launch editor of the pioneering magazine Gulf Business. He returned briefly to London in
1999 to complete his first book, a history of the Bovis construction group.
Then in 2000 he went back to Dubai to become an Internet entrepreneur, just as the dot-com market crashed. But he stumbled across the opportunity to become a partner in www.ameinfo.com, which later became the Middle East's leading English language business news website.
 Over the course of the next seven years he had a ringside seat as editor-in-chief writing about the remarkable transformation of Dubai into a global business and financial hub city. At the same time www.ameinfo.com prospered and was sold in 2006 to Emap plc for $27 million, completing the career circle back to where it began a decade earlier.
He remains a lively commentator and columnist as a freelance journalist based in Dubai and travels extensively each summer with his wife Svetlana. His financial blog www.arabianmoney.net is attracting increasing attention with its focus on investment in gold and silver as a means of prospering during a time of great consumer price inflation and asset price deflation.
Order my book online from this link
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Buy Gold in Harrods As Precious Metals Go Retail
