O Opportunity
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Maisha Frost discovers our obsession with the shiny stuff goes far beyond treasured watch and jewellery collections, and into the realms of the edible and incredible
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culptures in 24-carat gold plate used to be enough for the world’s wealthy collectors and dealers. But that’s not the case any more. Billionaires are moving up a gear, and now request models of their luxury cars be made of solid gold, from bonnet to boot. The trend is also manifest among the merely well-heeled too, many of whom are flocking to take lessons in do-it-yourself gold trading as prices of the precious metal mount ever higher. Sell, hoard, gamble or eat it, gold is hot and right along the chain too. Even ordinary shoppers in Midas mode can now stock up on sovereigns in stores like Scoin, the first of a nationwide roll-out that has just opened in London’s Westfield, close to the Olympic site. And all that glitters about chocolate and wine really is gold these days - edible flakes are being added by smart producers who know the sales value of its allure. Cheshire-based gold leaf importer connoisseurgold. co.uk reports an increasing appetite amongst restaurant chefs for spicing up carats by using flakes to garnish curries and sushi. And boxes of the chocolate champagne truffles, billed as the planet’s most extravagant sweetie experience, come smothered in gold and packaged in a Swarovski crystal-encrusted box - with sales reflecting a huge surge in demand. Forever glamorous, gold’s grip is growing both on our imaginations and investment portfolios. Its price has climbed
an average of almost 17 per cent a year since 2002, and the shine is not predicted to come off any time soon. Deep-rooted cultural traditions in the Middle and Far East, where the metal is seen as an enduring asset that once purchased should be passed from generation to generation, ensure global demand will always be high. As such in the West it is perceived as an investment safe haven, and an indicator of wider systemic stress, invariably warning of deep trouble elsewhere in the markets. General volatility, including fears about the Eurozone crisis, a downgrade and weakening of the US dollar, an erosion of the value of paper money by central
August there was a fall back in early autumn which had some experts repeating their warnings about the rush being a dangerous bubble. But the majority, including Peter Hambro, scion of the banking family and founder of Petropavlovsk, the London listed gold miner with operations in Russia, are still predicting it could break through the $2,500 barrier. This flight to gold can be witnessed at all levels of investing.
more notes (quantitative easing), the slump in global stock markets, and fears of a doubledip recession have all contributed to the current buoyancy of bullion. After reaching record highs of $1,886.50 per ounce in London in late
iconic sports car sculptures, unveiled recently at shows in Europe and the US, is a gleaming homage to the engineering artistry of those who built the original Aston Martin DB5, Mercedes-Benz 300 SL and Ferrari’s 250 GTO. Produced from steel frames that have
in s n tioe it is i d ra her nce t l a t, w at o on r u t Eas t th rati l u d c d Far asse gene for IT e t o e an ring om d o n r r a l p u f Deee Midd n end ssed re dem e th n as a d is pa ensu prem u At the very see chase ation,eign s top is Swiss artist Dante Rubli, whose work purgener ays r in the precious metal has become a of super-rich global collectors to ll alw banks favourite and celebrities. wi printing billions His 24-carat limited edition series of
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