Sales of Home Safes on the Up

Wednesday, November 25, 2009
Figures suggest that the sale of home safes has risen by 50% in the last year. Investors have become increasingly concerned about the safety of their investments stored in banks. At the same time, as its price continues to rise, investors have become more inclined to buy gold as a safe haven and recession proof investment. Often investors prefer to store both cash and gold in home safes.

Home safe retailers have reported a sharp increase in sales since the financial crisis began a year ago. In their view, people are protecting their money by keeping it at home and are buying more gold and jewellery as investments.

The average home safe costs around £200 and can be secured to the floor and wall of your home.

Gold Investors Storage Issues

Tuesday, November 24, 2009
According to reports today scores of armoured vehicles stacked with gold bars and coins have been pouring out of midtown Manhatten. The rush to buy gold and capitalise on its rising price has presented a problem for the HSBC bank….how to store it all. Apparently HSBC has requested that small retail investors move their gold from its vaults on New York City’s Fifth Avenue in order to create more space for bigger investors.

According to reports a letter sent out to HSBC’s clients in July told them to either move their gold or it would be delivered back to them.

Relocating the gold has created a logistical headache for small investors as they consider how to move and store their gold securely. The transfer of metal from HSBC to other secure storage facilities has been likened to a military operation!

Mauritius Latest to Buy Gold

Tuesday, November 17, 2009
Mauritius has become the most recent nation to decide that it will buy gold from the International Monetary Fund (IMF). They have reportedly bought 2 tonnes of the precious metal.

Although, this is nothing like the size of purchases made recently by other nations like India and Sri Lanka, it confirms the trend among international central banks to invest in gold instead of the dollar. This transaction more than doubles the total gold reserve held by Mauritius.

Gold Reaches New All Time High

Monday, November 16, 2009
The price of gold is breaking all time records on almost a daily basis at the moment with record highs being met more or less every day last week. The explanation for this continued rise hasn’t changed and investors are continuing to buy gold because of the weakening dollar and because it represents a reliable recession proof investment.

Gold prices hit an all time trading high on Thursday of £1,123.40 an ounce and financial experts are predicting that the price will continue to rise in the coming months.

Thieves Caught with Gold Bars

Tuesday, November 10, 2009
As the interest and rush to buy gold continues to increase, criminals are also becoming increasingly interested in gold.

On 30th October, a Hong Kong bound plane was forced to turn back to Abu Dhabi airport because it was suspected that thieves who had stolen a suitcase containing 25 gold bars were on board the flight.

The suitcase was taken when the owner, a gold tradesman, went to get a trolley and left his suitcase unattended. It is thought that the whole operation was planned in advance and that the perpetrators know that the suitcase contained gold bullion.

The whole operation was resolved within 24 hours.

Gold Gains Last Week as Dollar Falters

Monday, November 09, 2009
Gold made gains of 5% during last week on the back of speculation that worldwide central banks will buy gold as opposed to dollars which has historically been the long-established global reserve currency.

The dollar price fell on Monday after a meeting between the finance ministers from 20 major economies. Figures for this year indicate a 23% rise in the price of gold and many experts predict that it will continue to make gains throughout the next year.

Scottish Gold Hoard Found

Thursday, November 05, 2009
A keen metal detectorist has discovered a £1 million hoard of Iron Age gold necklaces in a field in Scotland. The find will significantly change the way experts thought ancient Scottish inhabitants lived.

The find is thought to contain valuable “torcs” which are necklaces made from twisted Irish or Scottish sheet gold. The designs are similar to those found on jewellery discovered in Toulouse in the South of France and points to the fact that the Scottish inhabitants weren’t as isolated as experts previously thought.

This is the most significant find in Scotland since 1857 and adds to the recent interest in gold. The price of gold has continued to reach unprecedented highs as investors buy gold as a good recession proof investment.

Gold Hits New Dollar High

Wednesday, November 04, 2009
Despite the stronger dollar, Gold prices surged on Monday night after it was announced that India had plans to buy gold amounting to 200 metric tonnes from the International Monetary Fund. The value of the gold was $6.7bn.

On Tuesday a record high was recorded in New York of $1085.95. This represents a 2.9% rise in the dollar price. The price of gold in Euros surged to 739 euros an ounce which represented a 3% rise on the day.

Pawnbroker H&T opens Gold Bars

Sunday, November 01, 2009
H&T pawnbroker is profiting from the new gold rush, as an increase in consumers cash in their old jewellery to benefit from record gold prices.

H&T has opened 56 “Gold Bars” retail outlets and plans another 20 by the year end. Customers can exchange their gold for cash at gold bar outlets across the country.

The price of gold has increased from $700 an ounce last year to more than $1,000 in 2009 as investors looked for alternative investment to shares and property in the recession. Gold is considered a "safe haven" asset and its popularity has risen since the recent financial crises.

Based on the strength of the increased gold price and the mass media attention on buying and selling gold, H&T identified the opportunity and has opened a number of retail shop units. These units are branded as H&T but operate separately from the pawnbroking store network.

Boss John Nichols said: “With everyone talking about the high price of gold and customers getting used to recycling, the timing is perfect.”

H&T Group said that the spiralling price of the precious metal would help it beat profit forecasts this year.

Live chat