Warning over cash for gold companies in Barnet (From Times Series)

Warning over cash for gold companies in Barnet

8:30am Sunday 8th November 2009

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A CONSUMER watchdog has referred more than 130 complaints in the past three months to Barnet Council bosses regarding traders who pay cash for gold.

The council’s trading standards department has seen “a sharp rise” in the number of people complaining about companies who exchange gold for money after an increase in TV, internet and newspaper adverts for the service.

Officers believe the current economic climate, combined with a high price for gold, has encouraged people looking to sell old precious items to raise quick cash.

It has led trading standards officers to issue warnings to people, urging them to shop around for the best price before selling off unwanted gold.

They advised consumers to look carefully at the terms of conditions of gold buying companies before sending off any items.

Councillor Matthew Offord, cabinet member for community safety and community engagement, told the Times Series: “Consumers should exercise caution if sending their gold items to companies offering to buy at a distance which is a higher risk than taking it to a trader yourself.”

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