2
December
Consumers warned over gold buying schemes
2 December 2009 The Telegraph
Some gold-buying firms are ripping off unsuspecting consumers by offering rock-bottom prices, according to council trading standards officers.
As Christmas approaches at the end of a year hit by recession, a number of cash-for-gold postal services have sprung up to take advantage of the current high market value of gold. But trading standards officers in Sutton, south London, found prices being quoted for a bracelet varied by almost 90pc.
They were offered prices ranging from £17 to £32 from six different outlets for the 9ct gold piece of jewellery.
Cllr Paul Bettison, chairman of Lacors, the regulatory body for councils, said: "Unfortunately there are some people finding themselves in very difficult financial circumstances this year, who could well be lured into giving up their jewellery to help fund Christmas.
"While a number of gold trading companies are quoting legitimate prices, trading standards officers have uncovered some companies happy to exploit consumers. People should not take the first offer they get but shop around as prices can vary significantly.
