Brits love Gold and Kate Moss so much they made a statue

smk762 · Oct 20, 2014

Source: British artist Marc Quinn's recent Siren, a 1.5 million solid gold sculpture of supermodel Kate Moss

To avoid the attention of would-be muggers, the punters arrived with an array of unostentatious bags.
The women seemed to prefer their old shopping baskets, while one elderly man - dressed as though he'd dashed here straight from the golf course - brought a Sainsbury's carrier.
Then there was the balding, middle-aged chap who kept glancing around furtively as he waited to make his purchase, and would only say that he 'worked in the emergency services'.

He had just bought a grey rambler's rucksack and hoped it would weigh considerably heavier by the time he boarded the train back to his home in the Kent suburbs.
They were all such ordinary people but they had come flocking to central London with an extraordinary aim born of these desperate times.
All were determined to make sure that their hard-earned nest eggs didn't get swallowed up in the credit crunch crisis - by cashing in shaky savings accounts and parlous pension funds and turning them into that most reassuringly durable commodity: solid gold.
Their Klondike-style mission had brought them to ATS Bullion, one of London's most prominent gold merchants, whose deliberately anonymouslooking office nestles beside the Savoy Hotel, just off The Strand.

They were clamouring for sovereigns and crowns, or mobile phone-shaped bars - anything made from the alluring yellow stuff. But with the run on gold approaching stampede proportions, some disappointed customers left with empty bags.
In the real world of plunging share prices and broken banks, the major gold suppliers are unable to keep pace with demand. 'I have never seen a market like this in my 33-year career,' says Jeremy Charles, chairman of the London Bullion Market Association. 'The gold refineries cannot produce enough bars.'
For many London dealers such as ATS, it means that, for the first time in many years, supplies of some standard bullion products have simply run out.
The emergency services worker from Kent was clearly crestfallen after failing to fill his new rucksack.
'I'm due to retire next month and I don't want my savings to disappear, so I did some research on the internet and decided to invest in gold,' said the 55-year-old man, who declined to be named.
'I've just paid out 32,780 on my debit card for two kilo-bars, and I had hoped to take them with me and keep them in my safe. But as they've sold out they'll just have to deliver it to me when they get some more.

'They will store it for you for 100 a year, but with things as bad as they are, I want to be able to see it and touch it.'
It is a sentiment that the overworked staff at ATS have heard often in recent days.
Managing director Sandra Conway says trade has trebled since the crunch began to bite, and many new customers are Mr and Mrs Averages who ordinarily would never have dreamed of dabbling in the rarefied gold market.

Read more: http://www.dailymail.co.uk/news/art...investment-old-time-itself.html#ixzz3GgPZvbyA
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Good sign for a bull market.

House · Oct 20, 2014

Article looks to be from 6 years ago- "updated 23:50 09 Oct 2008"

smk762 · Oct 20, 2014

damn didn't look at the year. delete as required.

House · Oct 20, 2014

The guy who bought 2kg of gold for AU$60k must be quite happy, costs about $92k now

thatguy · Oct 20, 2014

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Brits love Gold and Kate Moss so much they made a statue

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Brits love Gold and Kate Moss so much they made a statue

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