From Sky News:

It is a store that has always had the reputation for selling something a little different for those willing to splash their cash.

Harrods gold

Anyone got a spare £248,000? Maybe head to Harrods…  So despite enduring the worst recession in decades, shoppers to the luxury Knightsbridge shop Harrods can now buy “off the shelf” gold bars.  The price of gold has soared in recent weeks as the dollar weakens, reaching another record high of US$1,063.60 an ounce on Thursday…Chris Hall, head of Harrods Gold Bullion, said: “The financial environment has kindled a new demand for physical gold amongst private investors in Britain.

But, as Business Week points out, you don’t get a really good deal at Harrods:

But as any serious shopper knows, don’t expect a bargain at Harrods. The store says its premium on Krugerrand gold coins is currently set 11% above spot price—more than twice the average mark-up already paid by retail investors using typical U.S. and European coin dealers.

And it is also possible that the price of gold has peaked for now – when the “shoeshine boy” is giving tips…

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