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Buyers beware of the price of gold

PUBLISHED: 14:27 30 December 2009 | UPDATED: 15:45 16 August 2010

TRADING Standards officers have warned residents to shop around when selling gold after an investigation revealed that prices vary widely in

TRADING Standards officers have warned residents to shop around when selling gold after an investigation revealed that prices vary widely in the borough.

Bromley council's trading standards officers carried out a survey valuing one 18 carat ring in 14 premises in the borough and found that the value varied from as little as £5 to £12.50 a gram.

Consumers who post their gold to companies are also advised to check terms and conditions carefully.

Councillor Colin Bloom, chairman of the Safer Bromley Partnership, said: "I asked the council's trading standards team to look into this following questions from residents and it is now clear that if you want to sell unwanted gold jewellery, the advice is to shop around for the best price before you agree to sell."

Anyone who has experienced problems selling their gold should telephone Consumer Direct on 08454 040506.

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