IN London’s Hatton Garden jewellery quarter, stores have raised their iron shutters to welcome a motley crew of buyers and sellers, as the price of gold reaches record highs.
“I know that whatever they offer me first, I’m going to say no,” joked Jennifer Lyle, who had come to sell an old gold bracelet and single earring, after recently losing her job.
Lyle, 30, recounted how just a day earlier she had watched a television show in which a woman who bought a gold coin in 1996 for £60 found it was now worth £550 ($676).
“That’s a good increase, isn’t it?” Lyle said joyfully.
The price of gold struck 40 record highs last year as global demand reached an all-time peak of 4,974 tonnes, the World Gold Council (WGC) said in a recent annual report.
The record run has extended into 2025, with gold striking a record high close to $2,900 an ounce on Friday.
Central banks are purchasing gold in big quantities amid geopolitical and economic uncertainty, with the precious metal regarded as a safe haven investment.
AFP
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