Upmarket department store Harrods has announced that it will be selling gold bars, the ultimate luxury accessory.
Gold bullion and coins will be sold over the counter at the store. Harrods owner Mohamed Fayed has teamed up with Produits Artistiques Métaux Précieux (PAMP), the Swiss refiner, to sell gold in the store. The move shows that Harrods’ customer base has been largely unaffected by the credit crisis . Aimed at private investors, the gold will be sold at the Harrods Bank branch on the ground floor of the store.
Chris Hall, head of Harrods Gold Bullion, said: "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 saw the opportunity to help individuals buy physical gold in a prudent manner."
Harrods to sell gold bars
Fri, 16 Oct 2009
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