London retail giant Harrods will start selling gold bullion and coins over the counter.
Kinda odd, don't you think?
Mohamed Al Fayed, owner of Harrods, has partnered up with Produits Artistiques Metaux Precieux to sell gold at the bank located in the ground floor of the department store in hopes private investors will buy into it.
With the weak dollar, gold is at a record high, selling at $1,072 an ounce!
Dayum! Maybe we need to clean out some of our drawers and see if we can ca$h in on this. Ha!
The head of Harrods Gold Bullion, Chris Hall says "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.”
Well, we guess that makes sense.
Wonder if it'll work?
[Image via AP Images.]
Posted: October 15, 2009 at 4:30 pm
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