The Retail Jewellers of Ireland

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Glittering gold PrintE-mail

The US consumer confidence figures have helped mitigate risk aversion with the result that investment in gold continues to rise. This continuing international market activity has been mirrored with the growing trade in recycled gold.

Over the last year, daytime television ad breaks have been taken over by mostly UK web-based companies offering to buy unwanted gold. Reports from the magazine Which? states that some of these companies offer consumers shockingly bad value. Which? sent three pieces of brand-new gold jewellery to four gold buyers that advertise on TV in the UK. It also sent the same items to three independent jewellers and three pawnbrokers and it found that TV gold buyers consistently gave the worst quotes. The magazine’s investigation found that on average, the TV gold buyers offered only around 6 per cent of the retail price for gold, but British high street retailers paid around 25 per cent.

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