Harrods to sell gold bars

According to The Telegraph, Harrods will start selling gold bullion and coins over the counter.

Harrods owner Mohamed Fayed has joined up with Swiss refiner Produits Artistiques Metaux Precieux to sell gold in the store.

The move shows that Harrods’ customer base must have been largely unaffected by the recession. Aimed at private investors, the gold will be sold at the Harrods Bank branch on the ground floor of the store.

A weak dollar yesterday pushed the gold price to a record high of $1,072 (£662) an ounce.

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.”