Here’s a gift everyone will treasure

Jennifer McClelland | RSS | Wed, Oct 28 2009 | 3 Comments

Imagine yourself shopping for great Christmas presents at Harrods in London when something catches your eye. It is bright, shiny, and gold. It comes in a range of sizes between two pounds and 27.5 pounds; that’s right, Harrods is carrying gold bars and coins in its department store for the holidays.

After seeing a lack of support for the market geared toward selling gold, Chris Hall, head of Harrods’ bullion department said, “Up until now, London has had no well recognized name serving this market. Harrods saw the opportunity to help individuals buy physical gold in a prudent manner.”

Harrods is selling the gold in relation to market price, so it is definitely not flying off the shelves. Two point two pounds of gold from Harrods will cost you $35,000. The most expensive bar, which weighs 27.5 pounds, costs just under $430,000.

Even with the steep price tag, the gold has been selling well due to its long term investment potential.

With gold hitting all time highs recently, I can see exactly why Harrods would be wanting to cash in on this. If people know where to buy gold, then they would be more likely to actually buy it; especially if they can see it.

I would be more willing to buy something like Gold if I could see it and touch it rather than for it to be an intangible stake in the commodity.

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Tags: bullion, two pounds, long term investment